President Lee Jae-myung visited Busan on Oct. 13, calling the Arctic route 'another sea lane' to lean on when Middle East tensions disrupt shipping, and pledged to develop a southern maritime capital region. This report sets out the day's schedule and remarks as reported by the Kyunghyang Shinmun.
According to the Kyunghyang Shinmun, President Lee chaired a Cabinet meeting on the morning of Oct. 13 and then went to Busan's North Port in the afternoon for a welcome ceremony for the container ship Pan Star Acro, which had just returned from a voyage over the Arctic. Lee called the Arctic route 'another sea lane, another option' to rely on in a crisis and stressed that preparing only after it becomes necessary would be too late. The paper cited tensions in Middle East waters, which could choke sea lanes and shake the national economy, as the backdrop. The push to diversify maritime logistics routes ran through the whole visit.
광고 문의 · 300×250Maritime Affairs Minister Hwang Jong-woo and Busan Mayor Jun Jae-soo joined the ceremony, and the president toured the vessel with them. He then attended the unveiling of the Busan headquarters of HMM, which has moved from Seoul, and encouraged relocated employees. The Kyunghyang Shinmun reported that HMM's 'Busan era' began in earnest the day before, on Oct. 12, for the country's largest shipping line. Lee later made an unannounced stop at the North Port waterfront park, shaking hands and taking photos with citizens, according to presidential spokesman Sung Ki-hong as cited by the paper.
What the Acro Voyage Showed
The Pan Star Acro left Busan on Aug. 22, sailed through the Arctic Ocean to Britain and returned on Oct. 11, a 50-day round trip. The Kyunghyang Shinmun reported that the conventional route via the Red Sea and Suez Canal takes nearly a month one way, while the Arctic passage took about 20 days. It was described as the first time a Korean container ship has made a round trip to Europe over the Arctic route carrying actual export cargo.
Those figures come from a single trial voyage, however, and it is hard to say that regular scheduling, profitability or the seasonal limits of ice-bound stretches have been proven. The paper said the government is wary of premature optimism and intends to prepare for the route from a long-term perspective. Detailed economic analysis of the route was not confirmed in the report.
Regional Industry Links and the Russia Variable
Lee said Busan and the southeastern region must open their future together for the Arctic era and that he would foster a southern maritime capital region. In the concept described by the Kyunghyang Shinmun, Busan would handle ports, logistics and maritime finance, Ulsan shipbuilding and green energy, and South Gyeongsang shipbuilding components and advanced manufacturing. He also said he would strengthen the Ministry of Oceans and Fisheries, though a concrete reorganization plan and budget were not confirmed.
Russia's unavoidable role in Arctic cooperation also came up. According to the paper, Lee said the route should not be one country's exclusive gain but lead to shared prosperity, which it read as cooperating with Russia during the Ukraine war while keeping to Western sanctions principles. At the morning Cabinet meeting, Lee called cooperation with Russia the biggest challenge in opening the route and asked Foreign Minister Cho Hyun to manage relations.
Cho reportedly replied that Russia remains cooperative but that the possibility of tougher European sanctions on Moscow and ties with the United States must also be weighed. For the Arctic route to become a real alternative, port infrastructure, ice-class vessels, insurance and sanctions compliance would all have to be resolved together, so the Busan plan's success depends considerably on diplomatic variables.
