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Many Companies have started to produce a ballast water management system after the establishment of the Ballast Water Management Convention from the IMO in 2004. Within the international ballast water management system market, Korea has 11 disinfection technologies sharing over 35% of the global market. However, there are still very few third party institutions/laboratories with limited natural testing conditions to conduct related testing to meet international standards. Therefore, the Korean government is in the process of creating a bill to encourage ballast water management system manufacturers in Korea to develop and produce better products with the goal of obtaining over 50% global market share. It is expected that this proposition will be completed by February 2014. With this supporting bill, the Korean government hopes to continue to be a main stakeholder in the world market which is expected to exponentially increase through 2021. |
