South Korea Plans First Arctic Container Ship Test Voyage via Russia’s Northern Sea Route South Korea is preparing its first-ever container ship voyage through Russia’s Northern Sea Route, testing whether Arctic shipping can reshape Asia–Europe trade. The trial highlights Seoul’s ambitions to turn Busan into an Arctic hub, despite sanctions risks, high insurance costs and lingering geopolitical uncertainty.
South Korea to Subsidize Construction of Ice-class Vessels and Expand Port in Support of Arctic Shipping South Korea announced substantial budget increases to support expansion of the port of Busan, readying it for future Arctic traffic and subsidizing domestic construction of ice-class ships. Capturing the promise of growing Arctic shipping traffic is part of efforts to revitalize the country’s southern industrial region.
South Korea Looking to Transform Port of Busan Into Arctic Shipping Gateway Could Arctic shipping revive and transform South Korea’s southern ports? Leading presidential candidate Lee Jae-myung believes so, touting his vision of the Asian nation as a key hub for emerging Arctic routes.
