Airplanes at the Incheon International Airport in Incheon, just west of Seoul. (Yonhap)
SEOUL, Feb. 16 (Korea Bizwire) — The fever of environmental, social and governance (ESG) management that is sweeping across the industrial landscape is emerging as a central issue even for the airline and shipbuilding industries.
As part of efforts to reduce its carbon emissions, South Korea’s top full service carrier Korean Air Lines Co. decided to purchase ten more B787-9 next-generation eco-friendly aircraft, bringing the total size of its B787-9 fleet up to 20.
Compared to same-class aircraft, nearly 50 percent of the B787-9’s body is made of carbon fiber reinforced composite material, and it has 20 percent higher per-seat fuel efficiency and 20 percent lower emissions of carbon dioxides and nitrogen oxides.
Asiana Airlines Inc. also introduced A350 and A321 NEO aircraft that feature 20 to 30 percent higher fuel efficiency compared to existing aircrafts, while promoting the reduction in emissions of greenhouse gases by creating a fuel management committee.
Jeju Air Co., South Korea’s biggest low-cost carrier, is working on a number of initiatives to reduce emissions of greenhouse gases, among others, intersection take-off, optimum cruise altitude, shortening of flight distance and the use of a single engine after landing.
This photo, provided by Hyundai Heavy Industries (HHI) Group on Aug. 24, 2020, shows an LNG-powered container vessel with a capacity of 14,800 twenty-foot equivalent units, which was built by its shipbuilding unit Samho Heavy Industries Co.
In the meantime, the shipbuilding industry is also taking steps to implement ESG management in the areas of ship construction, R&D and investment.
South Korea’s largest shipbuilder Hyundai Heavy Industries Co. announced plans to invest 1 trillion won (US$993 million) in eco-friendly future business late last month, and unveiled an IPO plan to raise necessary funds.
The company signed a 480 billion won green loan deal with the state-run Korea Development Bank in May 2020, a first among domestic shipbuilders, and is now engaged in the development of ship technology using eco-friendly fuels such as liquefied natural gas (LNG).
Samsung Heavy Industries Co. also acquired the environment and energy management certificates ISO-14001 and ISO-50001 to promote its ESG management.
Daewoo Shipbuilding & Marine Engineering Co. is now striving to develop new type of vessels that use eco-friendly fuels such as ammonia and hydrogen as part of its efforts to become carbon neutral.
J. S. Shin (js_shin@koreabizwire.com)
