KR and HD Hyundai Global Service agree carbon-reduction verification MoU

The two companies signed a Memorandum of Understanding (MoU) about the digitalisation and maritime emissions reduction initiative at Kormarine 2023 held in Busan, South Korea.

Through this agreement, HD Hyundai Global Service plans to develop a monitoring system for carbon emissions using AI technology, forecasting and management solutions providing API (application programming interfaces), and data-related scenarios before and after applying carbon reduction solutions. KR will review the accuracy of ‘OceanWise’, the latest solution of HD Hyundai Global Service, and develop objective standards about the effectiveness of carbon reduction solutions.

LEE Hyungchul, Chairman and CEO of KR said, “In this challenging time with strengthened international decarbonization regulations, it is essential for shipping companies to find efficient ways to reduce carbon emissions to secure competitiveness, and the convergence with digital technology will be the solution. We will fully support the industry to achieve more progress in eco-beneficial digital technology through the collaboration with HD Hyundai Global Service.”

LEE Kidong, CEO of HD Hyundai Global Service added, “We are glad to be able to officially prove the value of our solution with the cooperation of KR. Our carbon footprint monitoring system will meet the various industry demands regarding carbon emission management and it will be a very useful tool for exploring new business opportunities”.