SEOUL: South Korean President Lee Jae Myung on Tuesday (Oct 13) welcomed home the first South Korean container ship to sail to Europe and back via the Arctic, as Seoul pushes to launch regular services on the route by 2030 despite diplomatic and commercial hurdles.
At a ceremony in the port city of Busan, Lee presented flower garlands to the PanStar Acro's captain and crew, who returned on Sunday after a 50-day voyage that included stops in Felixstowe, Rotterdam and Gdansk.
"We have clearly learned how badly the Korean economy is shaken when existing sea lanes are blocked," said Lee, referring to how conflict in the Middle East has affected shipping routes.
"The newly opening Arctic route can become another sea lane, another option ... to rely on in a crisis."
Authorities said the route, made more accessible by reduced ice cover in northern waters amid a warming climate, should cut sailing time by about a third compared with the Suez Canal route.
Oceans Minister Hwang Jong-woo said that further trial voyages are planned in 2027 involving container ships and automobile carriers, with the aim of launching a regular service in 2030.
He expected the route to become economically viable around 2040. Within 15 years, he said, ships could use it for more than six months of the year.
NORTHWEST PASSAGE
South Korea will also look into the potential of the Northwest Passage between Asia and North America, he said.
Obstacles remain, however, with the current route hugging Russia's Arctic coast, risking friction with Western allies seeking to isolate Moscow over its war in Ukraine.
At a cabinet meeting earlier on Tuesday, Foreign Minister Cho Hyun said Russia had been more cooperative than expected, though he conceded that there could be complications if the war drags on.
"For now there is no problem, but there is also the relationship with the United States," Cho said.
Lee said Seoul would develop the route "amid the trust of the international community", reassuring partners who might have concerns over the plans.
"We will strictly observe international norms and the international community's sanctions principles," he said at the ceremony.
The voyage also has yet to prove its commercial viability, according to the office of Kang Seung-kyoo, a lawmaker from the opposition People Power Party.
The ship had targeted 1,300 twenty-foot equivalent units (TEU) of cargo, but left with 737 TEU of export cargo and returned with 1,743 TEU of empty containers and no imports, according to Oceans Ministry data provided by Kang's office.
In his speech, Lee said getting cargo onto ships coming back after unloading in Europe was among the "challenges still to be solved".
Analysts said the route's commercial viability will depend on reliable schedules, speed of sailing through ice, special insurance premiums and extra fuel costs.