Korea wants ‘flying’ ships by 2010
By Mike Grinter in Hong Kong
27 June 2005
Lloyd's List

FOR those shipowners who have multi-million dollar ship contracts for vessels to be delivered in 2008 or later — take a deep breath.

According to a report by the English-speaking Korea Herald, you’ve missed the boat.

The report, filed from the Science and Technology-related Ministerial Meeting in Seoul, says the Korean government has set its sights on ships that will skim across the surface of the ocean at 250 kmh as early as 2010.

Not only will these ships cruise at speeds unheard of, they and their crews will be totally wired.

In the meeting chaired by Science and Technology Minister Oh Myung, the panel said the government and related industries were prepared to invest Won170bn ($167m) to build 100 tonne capacity wing- in-ground effect ships in 2010.

The Korea Herald cited officials as saying that the WIG ships, which are designed to float a few metres above the surface of the water, would bring new opportunities to the shipbuilding and logistics industry, and could account for 10% of all freight and passenger traffic by 2010.

Ekranoplans are old technology :D

S. Korean company to build flying ship manufacturing plant

SEOUL, June 25 (Yonhap) -- A South Korean company plans to build the world's first large-scale commercial flying ship plant, the government said Thursday.

The plant, to be built by Wingship Heavy Industries, will cover 43,000 square meters of land at the Gunsan Free Trade Zone located 274 kilometers south of Seoul, with the company aiming to produce 12 so-called wing in ground effect craft (WIG) every year starting in 2012, the Ministry of Knowledge Economy said.

WIG ships can fly 1-5 meters off the water's surface and can reach speeds of up to 300 kilometers per hour. Such vessels use the natural lift created by an object traveling at high speeds close to the water.

They are slower than passenger jets but are much faster than conventional commercial ships whose max speed usually does not surpass 40 kilometers per hour. South Korea started work on these flying ships in 1995 and successfully tested four-person and 20-person prototypes in 2001 and 2007 respectively.

The company that received funds from Daewoo Shipbuilding and Marine Engineering Co. and the government plans to invest 4.73 billion won (US$3.67 million) this year in the building effort. Most state funds are centered on research and development.

The first ships to be built will be capable of carrying 40 passengers with larger craft able to carry more than 350 people being planned down the road. Such ships will have the cargo carrying capacity of existing jumbo jets like the Boeing 747.

"Because of their speed, these craft can reach most South Korean islands, including Jeju, from the mainland within an hour and can ferry passengers and cargo to many Japanese and Chinese ports within three hours," a ministry official said.

He pointed out that because WIG ships need not climb several kilometers into the air, they use less fuel than planes and are safe because they can land on the water quickly if they experience mechanical problems.

"WIGs promise to become a clean, fast and safe way to travel short- and medium distances over water," the official said.

Wingship Heavy Industries, meanwhile, said that once production begins in earnest in 2012 it expects to sell 60-70 craft in the following five years that can generate sales exceeding 600 billion won per year.

Of the total, 20 ships may be sold in South Korea with 40-50 WIGs being exported, the conpany said.