eMARINE Global Receives Science and ICT Minister Award for Excellence
SEOUL, South Korea, Dec. 11, 2017 (GLOBE NEWSWIRE) -- eMARINE Global, Inc. (OTC:EMRN), a leading provider of information and communications technology for the maritime industry, is pleased to announce Korea’s Ministry of Science and ICT recognized the Company’s excellence in software technology for the maritime industry by bestowing upon it the organization’s highest award, the Science and ICT Minister Award. This is the third Minister award the Company has received in 2017.
“It is a great honor to receive the Science and ICT Ministry’s highest award,” stated Dr. Ung Gyu Kim, Chairman and CEO of eMARINE Global. “This award is a strong testament of the technology leadership we are demonstrating in our field and the economic value we are contributing through innovation that we believe is already reshaping the future of the $500 billion global shipping industry.”
The award was directly related to the Company’s core research and development efforts which have produced a growing number of Smart Ship solutions. eMARINE Global has been developing its Smart Ship technology under an exclusive partnership with Hyundai Heavy Industries (HHI), the world’s leading shipbuilder.
According to data from Clarkson Research, an estimated 6,500 ships are expected to be ordered globally over the next five years. Based on HHI’s market share, Integrated Smart Ship Solutions (ISSS) will be installed on approximately 700 ships during the period.
ISSS enables the interconnection of equipment, people, and goods through wireless technology, improving efficiency and safety in the shipping industry.
eMARINE Global has developed multiple Smart Ship solutions that are supplied to HHI under an exclusive partnership agreement. Solutions include technology for collision avoidance and voyage optimization, engine monitoring, fleet management, and fuel saving.
Ultimately, the Company’s innovative Smart Ship products will play a pivotal role in the future development of autonomous ships. Lloyd’s Register predicts the development of autonomous systems for the maritime industry will drive “the biggest revolution in maritime security in over a century.”
“Significant transformation is underway in the maritime industry, and we plan to play a pivotal role in the ongoing evolution,” continued Chairman Dr. Ung Gyu Kim. “Our technology is driving positive impact today, and as we bring more innovations to market, our growing success will lead to sustainable shareholder value improvement.”
eMARINE Global’s Chief Technology Officer, Minsik Primo Park, received the Ministry award on behalf of the Company during SW Week 2017 at the COEX conference hall in Seoul on November 22.
About eMARINE Global, Inc.
eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.
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These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance, or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.