South Korea is planning on debuting the world's first commercialized, large-scale wing-in-ground effect (WIG) ships in 2010. The WIGs, which will have a 100-ton capacity, will be able to operate over water at speeds of up to 250 km per hour.
On Thursday, a related ministerial meeting presided over by the minister of science and technology decided on commercializing large WIG ships as a part of a comprehensive national research, development and commercialization project.
The introduction of WIGs into the market between 2010 to 2019 is projected to generate sales of 4.5 trillion won from an estimated total of 83 units.
The Ministry of Maritime Affairs and Fisheries forecasts that WIGs will partially replace current air and maritime shipping methods between Korea and Japan and between Korea and China. Korea's market share of WIGs is projected to be ten percent in 2010 and grow to thirty percent in 2020.
The ministry also projects it will export three WIG units in 2010 and sell a total of 109 units by 2025.