eMARINE Global Awarded $500,000 Bridge Simulator Contract

SEOUL, SOUTH KOREA, July 18, 2019 (GLOBE NEWSWIRE) -- eMARINE Global, Inc. (OTC: EMRN), a leading provider of information and communications technology (ICT) for the maritime industry, signed a contract with Ulsan IT Industry Promotion Agency (UIPA) to develop a full mission ship bridge simulator for the National Autonomous Ships’ Test Bed in Ulsan, Korea. The contract is valued at an estimated 650 million won (US$0.5 million).

The simulator is utilized to test the autonomous ships prior to sea-trial, to simulate their operation and traffic control in a virtual environment, and to acquire data from marine equipment for further testing and development. The test bed, in connection with the shore-based traffic control center, is being established to test, trial, evaluate, and develop autonomous ships.

“This simulator contract represents the cornerstone of the entire autonomous ship test bed project, a strategically significant project for Korea,” stated Ung Gyu Kim, Chairman and CEO. “eMARINE again proved itself and further demonstrated its leadership position in the rapidly evolving autonomous ship technology market.”

Ulsan was chosen as the national center for autonomous ship testing in 2018. The Korean government has committed to invest 130 billion won (US$110 million) in the project over the next three years, with a goal of starting operations in 2023.

UIPA serves as project manager for the test bed construction.

Founded in 2001 and based in South Korea, eMARINE Global is working with a growing base of marquee customers to achieve maritime ICT convergence through fully integrated products and services, offering state-of-the-art e-navigation, marine Internet of Things (IoT), and marine big data solutions, primarily in Korea with near-term expansion into U.S. and Chinese markets.

About eMARINE Global, Inc.

eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.

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Dave Gentry
RedChip Companies
407-644-4256, ext. 104