October 4, 2024 (SEOUL) — On October 2, 2024, 15 members of the National Assembly, led by legislator Dae-rim Moon, introduced the Special Act for Supporting the Establishment of Green Shipping Corridors. This bill, which explicitly outlines support for establishing green shipping corridors, is the first of its kind globally. In light of growing international interest in green shipping corridors, the bill holds significant meaning both domestically and internationally.  

What are Green Shipping Corridors? 

Green shipping corridors involve agreements between two or more ports to establish zero-emission shipping lanes between certain routes. Prominent global examples include green shipping corridors between Los Angeles and Shanghai, and Antwerp and Montreal. 

In a Korean context, a green shipping corridor refers to a corridor designated and notified by the Minister of Oceans and Fisheries, where zero-carbon fuel and eco-friendly technology are utilized for ships operating between two or more environmentally friendly ports, with no carbon emissions throughout the entire maritime transport process.  

Global Interest in Green Shipping Corridors 

Following the Clydebank declaration at COP26, more than 40 green shipping corridor plans have been announced globally. The reason for the increasing global attention on green shipping corridors is that the shipping industry accounts for about 3% of global greenhouse gas (GHG) emissions, which means that if shipping was a country its emissions would rank as the 6-8th in the world. Last year, the International Maritime Organization (IMO) declared a goal to achieve carbon neutrality in the international shipping sector by 2050. To achieve this, the IMO is expected to announce mid-term measures early next year, which will come into effect in 2027. 

Progress in South Korea's Green Shipping Corridor Initiatives 

During COP27, South Korea, along with the United States, announced a plan for a green shipping corridor, aiming to establish it by 2027. Additional collaboration steps were announced at COP28 to commence sea trial, starting in 2028. However, despite ongoing efforts in the shipping sector to reduce greenhouse gas emissions, such as the development of eco-friendly ships, South Korea remains heavily reliant on fossil fuels like liquefied natural gas (LNG). 

LNG-fueled ships, which are 5.5% of the entire global fleet (gross tonnage basis), release not only Boil-off Gas (BOG) from LNG combustion but also emit additional emissions through methane slip— which refers to methane that leaks without being burned in the engine. Since LNG consists of 70-90% methane, its total emissions, when considering the high global warming potential of methane, are higher than expected. Methane is the second most potent pollutant after carbon dioxide, contributing approximately 30% to global warming and increasing the Earth's temperature by about 0.5°C. 

Therefore, it is projected that South Korea's reliance on fossil fuels like LNG will make it difficult to meet its greenhouse gas reduction targets by 2050. It also means that to effectively leverage green shipping corridors and meet national decarbonization targets, Korea must accelerate its investment in non-fossil fueled ships. 

The First Step Toward Establishing Domestic Green Shipping Corridors: The Special Act for Supporting the Establishment of Green Shipping Corridors 

• The two most important aspects of this bill are as follows: 

1. It explicitly states that zero-carbon ships must be deployed on green shipping corridors. 

2. The government can support businesses in the shipping and shipbuilding industries that sign memorandums of understanding (MOUs) related to green shipping corridors. 

• If this bill is passed, we can expect a reduction in greenhouse gas emissions in both domestic and international shipping through the expansion of green shipping corridors beyond the existing plan between the eastern ports of South Korea (Busan, Ulsan, Masan) and the U.S. northwestern ports (Seattle, Tacoma, Everett). This will also help maintain the competitiveness of the shipping and shipbuilding industries into the mid-21st century. 

Comments from John Yum, Shipping Lead at Solutions for Our Climate (SFOC):  

"In a time when the climate crisis is accelerating, carbon neutrality in shipping is of great importance. Green shipping corridors are a significant policy mechanism because they not only prevent carbon emissions domestically but also contribute to eliminating emissions during the shipping process between countries.”  

“The Special Act for Supporting the Establishment of Green Shipping Corridors is a positive step towards reducing emissions in shipping. Particularly, the bill's explicit inclusion of 'zero-carbon ships' is important because it prevents LNG ships, often falsely labeled as eco-friendly, from being used in green shipping corridors.”  

“Whether this bill is successfully passed by the National Assembly will impact South Korea’s ability to achieve national carbon neutrality targets for shipping." 

“While more than 40 green shipping corridors have been announced worldwide, South Korea’s new bill is the first global example of national legislature being introduced to regulate the parameters of green shipping corridors. This case serves as a global example for other countries currently implementing or seeking to introduce green shipping corridors, particularly in terms of ensuring that fossil-fuel based false-solutions such as LNG are not included in these decarbonization efforts.” 

ENDS.  

Solutions for Our Climate (SFOC) is an independent nonprofit organization that works to accelerate global greenhouse gas emissions reduction and energy transition. SFOC leverages research, litigation, community organizing, and strategic communications to deliver practical climate solutions and build movements for change.   

To request interviews, quotes, or more information please contact Kate Kalinova, Communications Officer, at kate.kalinova@forourclimate.org.