▮ Supported ESG assessment and strategy establishment
▮ Mutual cooperation for sustainable management in the maritime industry

On 13 October, Korean Register (KR) signed a memorandum of understanding (MOU) with the Korea Institute of Marine Science & Technology Promotion (KIMST) to boost ESG management in the maritime industry at KR Headquarters. The collaborative effort recognizes the centrality of ESG management and seeks to establish a partnership to carry out internal ESG assessments and expand sustainability management.

Through this agreement, KR will provide an ESG management educational program for R&D companies. Moreover, KR plans to support companies in developing optimized sustainability management by sharing the risk and opportunity factors in the ESG sector derived from ESG assessment results.

KIMST is a research and development institution specializing in the maritime and fisheries sector and has been responsible for evaluating and managing about 550 national research and development companies. Additionally, the institution is committed to advancing social causes such as contributing to marine R&D, societal problem-solving, job creation and industrial collaboration. Last year, it also obtained an A grade in the management performance evaluation of public institutions.

KR Chairman & CEO Lee Hyungchul said: 

“We are delighted to cooperate with KIMST, an excellent R&D institution in the marine and fishery sector, to boost sustainable management in the maritime industry. We will spare no effort in joint measures to identify and implement practical tasks across ESG with our accumulated experience in developing ESG assessment criteria.”

Following the shipping ESG assessment index developed last year, KR completed the development of the shipbuilding-specific ESG evaluation index together with Daewoo Shipbuilding & Marine Engineering in September2022. In addition, as international regulatory bodies such as the EU and IMO – along with their environmental polices - are being strengthened continuously, KR is actively supporting the maritime industry to adopt and respond to the ESG by developing alternative fuels for decarbonization and advancing green technologies.

Image shows KR Chairman & CEO Lee Hyungchul (left) 

and KIMST Director Oh Woonyeol at the MOU Signing Ceremony