China's green ship push opens doors for Korean marine equipment makers

Korean marine equipment companies are moving to capture a share of China's shipbuilding market as the country accelerates its shift toward eco-friendly vessels. China's shipbuilding order book is growing rapidly, but the domestic content rate for key components remains low — a gap that leaves room for Korean suppliers.

KOTRA announced Monday that it co-hosted the "Green Marine Equipment China Entry Road Show" in Shanghai and Nantong from May 26 to June 4, in partnership with Busan city and the Busan Marine Equipment Industry Cooperative. Nantong is regarded as one of the leading shipbuilding hubs in China's Huadong region.

The event comprised B2B export consultations, a seminar on entering the Chinese market, and on-site visits to local shipbuilding companies. A total of 23 Korean small and midsize eco-friendly marine equipment firms participated, including Busan-based companies supported by the city government.

On the Chinese side, more than 30 buyers attended — including major shipyards such as Jiangsu New Times Shipbuilding and Shanghai Waigaoqiao Shipbuilding (SWS), along with ship design firms and local agents. Jiangsu New Times Shipbuilding ranked as the world's top shipyard by new orders in 2024.

At the consultation sessions, Chinese buyers showed strong interest in Korean-made eco-friendly equipment, including LNG fuel pumps, low-temperature motors, fuel gas supply systems and ballast water treatment systems. As international environmental regulations tighten, Chinese shipbuilders are increasingly focused on securing high-efficiency, low-carbon vessel equipment.

China's shipbuilding sector is riding a boom in new orders, but the average domestic content rate for ship components stands at only around 54 percent — well below South Korea's 90 percent and Japan's 95 percent. As orders for eco-friendly vessels grow, demand for a stable supply of related equipment is expected to rise in tandem.

Company F, a motion control manufacturer that took part in the road show, said it had confirmed the possibility of supplying new equipment to SWS and planned to use that as a springboard to expand supply to shipyards in other parts of China.

On the second day of the event, participating companies visited COSCO Shipyard and offshore plant specialist WNE in Nantong. They toured production facilities and held meetings with local industry officials to assess opportunities for entering the Chinese marine equipment market.

"Just as we have seen with the rapid expansion of electric vehicles, China's green transition in the shipping sector is also accelerating — and awareness of Korean eco-friendly marine equipment is already relatively high," said Hwang Jae-won, head of KOTRA's China regional headquarters. "We will continue supporting Korean equipment companies as they enter China's major shipbuilding bases — starting with the Huadong region and extending to Dalian, Qingdao and Xiamen — so that K-shipbuilding and marine equipment can seize new export opportunities."