In a bid to accelerate innovation in the marine and fisheries sector, the Ministry of Oceans and Fisheries (MOF) has announced a significant investment initiative aimed at supporting 20 projects over the next two years. This initiative is part of the AI Applied Product Rapid Commercialisation Support Project.

Investment Breakdown

The MOF’s investment structure involves allocating KRW2 billion for five selected projects, which will undergo a one-year development period. Additionally, fifteen other projects will receive KRW1 billion annually for two years. The program emphasizes the importance of private sector involvement, mandating that participating companies contribute at least 30% of the total project costs as private matching funds.

Critical Application Areas

This initiative targets seven key application fields essential to enhancing the sector’s competitiveness. These areas include:

• Marine engineering and resource development
• Marine environmental monitoring and forecasting
• Port and logistics operations
• Maritime safety and transport
• Aquaculture
• Fisheries production and processing
• Marine biotechnology

Fostering Domestic Innovation

A key condition of the programme is that only domestic companies directly involved in product development or manufacturing can lead the projects. While universities, public institutions, and research organizations are welcome to join, they must do so in collaboration with a private-sector anchor, reinforcing MOF’s objective to “maximize industrial impact.”

Goals and Oversight

The MOF aims for this initiative to catalyze the transition of AI technologies from the lab into practical applications within marine and fisheries settings. “Through this project, we expect AI technologies to move beyond the laboratory and assist in addressing challenges while creating new markets,” stated Seo Jeong-ho, the Director-General for Marine Policy at MOF.

The Korea Institute of Marine Science and Technology Promotion (KIMST) will supervise the programme’s lifecycle, including project selection, evaluation, progress monitoring, and budget management. KIMST will also develop follow-up initiatives to ensure the widespread dissemination and scaling of successful project outcomes, indicating the government’s intent to establish a long-term pipeline for marine-AI deployment rather than merely a one-time funding effort.

Call for Proposals

The call for project proposals is now open, running from March 19 to April 20. MOF is eager to see active participation from competent companies that can enhance the marine and fisheries industry’s competitiveness.