On 26 February 2013, in Seoul, the Korean Register of Shipping (KR) launched “Innovation KR” (iKR), a new subsidiary company established to manage all non-traditional work.
iKR will undertake engineering, consulting and, in particular, a wide range of R&D activity aimed at new and renewable energies and environmental issues. The new subsidiary will operate from a recently opened “shipping building” in Seoul that also houses the Korean Shipowners’ Association and the Korea P&I Club.
Commenting on the launch, KR’s Chairman and CEO, Oh Kong-gyun said: “Classification societies must always look to the future. iKR has combined our existing skill-sets to generate synergies that will help support and advance the shipping and maritime industries as they move into a new era. Research and development into new fuels and greener ships will be key to the future success of our industry and I am keen to see KR play a leading role in these exciting innovations“
Whilst the provision of traditional classification services will always remain at the heart of KR, diversification into related areas has been a successful element of KR’s business strategy for some years. KR will continue as a not-for-profit classification society leaving iKR free to focus on non-core and future-looking business.
The Korean Register of Shipping is an IACS member classification society established in 1960 with the purpose of promoting safety of life, property and the protection of the marine environment.