The KOMEA India office is scheduled to open in Mumbai on October 30, 2026, giving the South Korean marine equipment association its first office in the country, India’s shipping ministry said.

KOMEA India office and its proposed work

The Korea Marine Equipment Association has offered to cooperate with Indian shipyards on vessel design, modernization and technology transfer, as well as training and local production of equipment and spare parts.

Chairman Ho-il Kang said association members had started preparing to enter the Indian market within two years. Founded in 1980, KOMEA represents 304 businesses, including equipment manufacturers, designers, shipbuilders and repairers. Its members include HD Hyundai, Hanwha Ocean and Samsung Heavy Industries.

Several members, including SB Sunbo, Daeyang, KASEMEC and JO Engineering, discussed possible investments in India’s maritime sector, the ministry statement said.

India’s shipbuilding plans

Ports, Shipping and Waterways Minister Sarbananda Sonowal said much of the high-value equipment needed for Indian-built ships is currently imported, presenting an opportunity for Korean suppliers. Sonowal was on a four-day visit to South Korea.

India approved a shipbuilding package worth about $7.8 billion in September 2025, Sonowal said. The pipeline of vessels receiving direct government assistance includes more than 120 ships valued at over $1.27 billion, with exports accounting for more than 80% of the value.

The ministry has also combined government entities’ expected demand to give Indian shipyards visibility of more than 400 vessels worth about $23 billion over the next 10 years. That figure represents anticipated demand, not completed orders.

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