First China, now South Korea: Asian powers turn to Arctic shipping
Months of disruption through the Strait of Hormuz are prompting a rethink of global supply chains, with South Korea now following China in pushing to commercialise the Arctic shipping route to Europe. Seoul aims to open a regular route by 2030.
Months of disruption through the Strait of Hormuz have prompted a rethink of global supply chains, the South China Morning Post reported, with South Korea now following China in moving to commercialise the Arctic shipping route to Europe.
Under a maritime development plan released on Tuesday by Seoul's Ministry of Oceans and Fisheries, the country aims to open a regular route through Arctic waters by 2030, following a trial voyage set to debut later this year.
The Arctic route could shorten distances between Asia and Europe, but melting ice and environmental concerns remain points of debate. Implementation of the plan will be watched closely.
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