[Korea Joongang Daily/ April 21, 2024] HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has entered a collaboration aimed at reducing greenhouse gas emissions within the shipbuilding industry along with Korea East-West Power and the Korea SMEs and Startups Agency.

The memorandum of understanding centers on maximizing energy efficiency within workplaces, primarily through the replacement of existing air compressors with more efficient equipment, according to HD KSOE on Sunday. The switch is anticipated to reduce annual greenhouse gas emissions by approximately 30 to 60 tons per unit replaced, it added.

Together with Korea East-West Power, HD KSOE will provide support to small- and medium-sized subcontractors operating within the company and its shipbuilding affiliates — HD Hyundai Heavy Industries, HD Hyundai Mipo and HD Hyundai Samho. The support encompasses equipment replacement and maintenance. HD KSOE also plans to provide carbon emissions measurements and management solutions to assist smaller subcontractors that have difficulty establishing a dedicated ESG division.

"We plan to expand support to cover up to 1,000 entities," an HD KSOE official said. "ESG has long been an essential component of corporate management," said Kim Sung-joon, CEO of HD KSOE. "I hope this collaboration will establish itself as a mutually beneficial model for achieving the national goal of greenhouse gas emissions reduction."