South Korea and Australia have signed an initial agreement to create an eco-friendly shipping route between the two countries by 2029 as part of joint efforts to reduce carbon emissions, Seoul's oceans ministry said Monday.
The two sides signed a memorandum of understanding (MOU) aimed at operating the "green" shipping corridor starting in 2029, according to the Ministry of Oceans and Fisheries, News.Az reports, citing Yonhap.
The green shipping corridor refers to a route where vessels emit zero carbon by utilizing nature-friendly technologies and non-carbon fuels.
Oceans Minister Kang Do-hyung insisted green shipping corridors will be "the most effective tool in achieving carbon neutrality" in the shipping industry, the ministry said.
Under the MOU, South Korea and Australia will cooperate to achieve the carbon neutrality of the global shipping industry by 2050 and respond to the International Maritime Organization's regulation on carbon emissions.
The two countries will also join hands to foster the development of eco-friendly digital technologies for the shipping industry, according to the ministry.
