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Daewoo Shipbuilding releases patents to small companies

Daewoo Shipbuilding and Marine Engineering will make more than 100 shipbuilding-related patents available to small and medium-sized enterprises, company officials said Wednesday.

Under the plans, DSME will open up 105 patented technologies related to vessels powered with liquefied natural gas to SMEs. The shipbuilder invested about 50 billion won ($47 million) into developing the technologies.

The shipbuilder will sign a business contract with the South Gyeongsang Province branches of the Creative Economy Innovation Center and the Regional Intellectual Property Center to execute the plans.

According to the shipbuilder, LNG-fueled ships emit 23 percent less carbon dioxide, and as much as 95 percent less sulfur oxide than conventional ships, and can cut fuel costs by about 35 percent.