Shared testing platform key to global competitiveness for eco-friendly ship parts, industry says

Yang Jae-saeng, chairman of the Busan Chamber of Commerce and Industry, visited Panacea Co., an eco-friendly marine equipment maker, Tuesday afternoon to tour its production facilities with company Chairman Lee Su-tae and hear about the firm's challenges and policy requests.

The visit came as the International Maritime Organization tightens environmental regulations and the global shipping industry accelerates its shift toward decarbonization. Officials from Busan's corporate policy cooperation office and the city's business ombudsman also attended.

At a roundtable, Panacea representatives outlined four priorities for building a green and smart shipbuilding ecosystem and strengthening global competitiveness: establishing and operating a shared testbed for eco-friendly marine equipment; creating a cooperative framework linking shipping companies, shipyards and equipment makers tied to HMM's planned relocation to Busan; training field-ready specialists; and securing an integrated production and storage base in the new port's hinterland complex to support growing global orders.

"Even after development, eco-friendly equipment requires long-term performance verification and domestic and international certification to earn the trust of shipowners, shipyards and classification societies — but individual companies cannot handle all of that on their own," Lee said. "Building a shared testing platform will allow equipment makers to secure global competitiveness."

Participants also raised the urgent need for more space for production, storage and testing as products grow larger. "Securing an integrated production and storage base within the new port's hinterland complex would help cut logistics costs, prevent product damage and improve price competitiveness," a company official said.

Yang pledged to act on the concerns raised. "The eco-friendly shipbuilding equipment industry is a future growth engine for Busan, so we will bring practical support tasks — including building testing infrastructure, training specialists and securing hinterland space at the new port — to the attention of Busan city and relevant agencies, and work to translate them into policy," he said.

Founded in 1989, Panacea has developed eco-friendly marine equipment using its own technology, including ballast water treatment systems, exhaust gas reduction devices such as scrubbers and selective catalytic reduction systems, and onboard carbon capture systems. The company now operates a network spanning 37 countries and leads the global eco-friendly shipbuilding equipment industry.