- Task force and public-private committee to prepare for Arctic shipping routes.
- Exemptions sought for AI-powered autonomous ship technology development.
- Smart port test bed construction to begin in Gwangyang this November.
The government is stepping up to support projects focused on building icebreakers for Arctic shipping routes, as announced by Oceans Minister Chun Jae-soo on Thursday. Korea is gearing up to kick off pilot operations on the Northern shipping corridors next year, reports Korea Times.
Funding for Icebreaking Vessels
“We will invest 11 billion won ($8 million) per vessel built with icebreaking capabilities for operation on the Arctic shipping routes,” Chun said, noting that the Ministry of Oceans and Fisheries has already allocated funds in next year’s budget.
Chun anticipates that full-scale operations on these Arctic corridors could launch by 2030, referencing research from Pohang University of Science and Technology (POSTECH). The ministry has set aside 7.3 trillion won for operations in 2026, which includes 1.66 trillion won dedicated to expanding ports in the southeast.
Building Busan as a Maritime Hub
The Lee Jae Myung administration is committed to transforming Busan into a global maritime hub. To facilitate this, the oceans ministry plans to move its headquarters from Sejong to Busan by the end of the year.
Chun mentioned that renovations will kick off next month, describing the relocation as the first step toward turning the southern region into a global maritime centre. The ministry will also encourage local shipping companies to make the move to Busan, offering incentives and backing plans for a new maritime court and investment corporation.
Preparing for the Arctic Shipping Era
Chun will lead a government task force focused on preparing for Arctic shipping, while also advocating for a public-private committee and support organisation. The ministry aims to seek exemptions from feasibility studies related to AI-powered autonomous ship technologies.
Smart Ports and Global Cooperation
In November, work will commence on a smart port test bed in Gwangyang, South Jeolla Province. Additionally, the ministry is planning to establish MOUs with Denmark and Singapore to develop net-zero shipping corridors.
HMM Governance and POSCO Interest
On reports of POSCO Group’s interest in acquiring HMM, Chun said the matter must be viewed in the national interest. “There may be criticism that discussions on HMM’s governance is being delayed, but I will address both the possible relocation of HMM’s headquarters to Busan and its governance issue at an appropriate time,” Chun added.
Earlier, the Korea Shipowners’ Association opposed the bid, warning it could “destroy the shipping ecosystem” of Korea.
Fukushima Water Release Monitoring
Chun also addressed Japan’s Fukushima water release, saying no safety breaches have been detected. The government will continue monitoring radioactive levels around Korean waters as a precaution.
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Source: The Korea Times
