Korean marine equipment makers push into ASEAN shipbuilding market

South Korean shipbuilding and marine equipment companies are accelerating their push into the ASEAN market. With vessel exports continuing to rise, growing demand for eco-friendly ships and AI- and robotics-based equipment is opening new opportunities for small and mid-sized component makers.

KOTRA announced Wednesday that it held the "2026 Korea-ASEAN Maritime Week" in Bali, Indonesia, over two days beginning Tuesday. The event brought together more than 40 South Korean shipbuilding and marine equipment companies alongside roughly 40 ASEAN shipyards, shipping firms and engineering companies.

The event was organized to help South Korean shipbuilding and offshore plant equipment firms enter the ASEAN market and identify supply chain cooperation opportunities with local buyers. While South Korea's shipbuilding industry has maintained strong vessel export momentum, converting that success into actual parts and equipment sales has remained a challenge for component makers.

Tightening carbon emission regulations and rising demand to replace aging vessels have sharpened industry interest in eco-friendly propulsion systems, high-efficiency equipment and digital navigation technology. The ongoing restructuring of major-country supply chains has also raised the strategic value of Southeast Asian production and maintenance hubs.

ASEAN is a region with steady demand for shipbuilding and maritime infrastructure development. There is strong demand for the construction, repair and conversion of small and mid-sized vessels, and governments across the region are actively promoting their domestic maritime industries. Local content rates for ship components remain low, however, leaving the region heavily dependent on foreign technology and equipment.

Indonesia alone is home to an estimated 250-plus small and mid-sized shipyards. According to KOTRA's Surabaya trade office, more than 70 percent of the country's marine equipment is imported — a gap South Korean companies are well positioned to fill through local partnerships.

The Korea Trade-Investment Promotion Agency (KOTRA) co-organized the event with the South Gyeongsang Province Shipbuilding and Marine Equipment Cooperative, the Busan Shipbuilding and Marine Equipment Industry Cooperative, the Korea-Indonesia Offshore Plant Cooperation Center and Korea Maritime and Ocean University. On the ASEAN side, shipbuilding and offshore plant buyers and industry association representatives from Indonesia, Malaysia, Vietnam, Singapore and Australia attended.

Activities during the event included a Korea-Indonesia bilateral project council, one-on-one business consultations, a new technology and product exhibition, and an ASEAN shipbuilding and offshore plant seminar. South Korean companies showcased eco-friendly equipment, vessel modernization technology, AI-based systems and offshore plant products, discussing potential cooperation with local firms.

Malaysia Marine and Heavy Engineering (MMHE), Indonesian state-owned shipyard PT PAL and Vietnam Ocean Shipping Co. (VOSCO) also participated. These companies discussed cooperation with South Korean firms centered on eco-friendly energy, vessel conversion, AI robotics equipment, shipbuilding and maritime infrastructure development, and expanded equipment procurement.

Concrete agreements were also reached on the sidelines. Seho Marine Solutions, a South Korean participant, signed an MOU with Indonesian shipyard PT DPL on technology cooperation for developing eco-friendly fuel-propelled small vessels and unmanned surface vehicles — confirming local interest not only in green ships but also in unmanned and automated technology.

An Indonesian official who attended the MOU signing said, "We look forward to the strong technological synergy the two companies will create, starting with this MOU."

KOTRA said it plans to use the consultations as a springboard to broaden the export base for South Korean small and mid-sized marine equipment firms in the ASEAN shipbuilding and maritime market, expanding beyond finished vessel exports into components, maintenance, conversion and digital ship technology cooperation.

Kim Gwan-muk, KOTRA executive vice president and head of the economic security and trade cooperation division, said the ASEAN market "is gaining recognition as a new shipbuilding and maritime hub, driven by growing demand for maritime infrastructure development and small and mid-sized vessel construction." He added that KOTRA would expand its support for small and mid-sized Korean shipbuilding and marine companies entering the ASEAN market, given the confirmed demand from local shipyards and shipping firms for Korean partnerships.