Danfoss, a leading company in global energy efficiency solutions, signed a memorandum of understanding (MOU) with the Chuja Island shipowners' council on May 10 in conjunction with the sixth International Electric Vehicle Expo held on Jeju Island.
This MOU was signed in response to the Jeju Special Self-Governing Province's Carbon Free Island (CFI) policy to drive the revitalization of regional economies such as energy self-reliance, improving fishing competitiveness and eco-friendly experience tourism, and to lead the market by suggesting the direction of development of domestic and foreign islands, a Danfoss spokesman said.
The Carbon Free Island 2030 project promoted by Jeju province aims to develop the entire island into a smart grid city by 2030 by 100 percent using renewable energy and electric vehicles to become an energy independent and world-class electric vehicle city.
Chuja Island, located in the middle of the southwestern part of the Korean Peninsula and the Jeju province, belonged to South Jeolla Province until 1910, but was incorporated into Jeju City after the administrative region was reorganized.
Chuja Island's main industry is fishing industry, especially the island is famous for anchovies.
Danfoss is a global company specializing in energy solutions, leading global trends in infrastructure, food supply, energy efficiency and eco-friendly solutions. It is based in Nordborg, Denmark, with 27,700 employees worldwide.
Under the agreement, Danfoss will provide various consulting and education on electric ferries, hybrid ships, freezer warehouses, cooling and renewable energy in buildings to the Chuja Island shipowners' council.
Danfoss President Kim Sung-yup said, "I believe the signing of the MOU will play an important role in contributing to the Paris climate agreement policy, which has set a goal of reducing carbon by 37 percent by 2030."