eMARINE Global Inc. (OTC:EMRN), a leading provider of information and communications technology for the maritime industry, is pleased to announce it has been chosen to receive funding from a government grant program from the Korea Evaluation Institute of Industrial Technology (KEIT) to develop smart-ship technology for the “Fourth Industrial Revolution. ”
Under the terms of the grant, eMARINE Global is leading a consortium, comprising the Research Institute of Medium and Small Shipbuilding (RIMS), Korea Marine Equipment Research Institute (KOMERI), APS Co. Ltd, and Global GTI Co. Ltd.
The three-year grant program awards the consortium 2.23 billion won (US$2.1 million) to develop an “Auto Pilot System with Collision Avoidance Function for Small and Medium Ships.”
The Company previously received similar government grant funding for three additional development programs, including its e-navigation application (Maritime Ministry), remote maintenance system (National IT Industry Promotional Agency), and internet-of-things data-platform software development (National IT Industry Promotional Agency).
“Collectively, these four grant programs provide an estimated 854 million won (US$800,000) in funding this year alone,” said Dr. Ung Gyu Kim, Chairman and CEO of eMARINE Global. “Our ability to secure government funding, service government accounts, including the Korea Navy and Coast Guard, and our high-level working relationships and partnerships with industry leaders like Hyundai Heavy Industries, provide demonstrable proof of our leading position in the market for maritime technology.”
About eMARINE Global Inc.
eMARINE Global 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 onshore 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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