According to South Korean media reports, South Korea plans to send a container ship on a trial voyage from Busan to Rotterdam along the Northern Sea Route at the end of August, completing the journey in September. The cargo ship will traverse the ice-covered waters off the northern coast of Russia, pass through the Scandinavian Peninsula, and ultimately arrive at Rotterdam, the busiest cargo port in Europe.
The South Korean government will provide 11 billion won (approximately US$7.3 million) in budget support for this trial voyage, hoping to enhance the position of Busan Port and South Korea in the emerging Arctic shipping industry. In fact, South Korea already holds a certain advantage in the Arctic shipping industry chain. Hanwha Marine has built most of the icebreakers used to transport LNG from the Yamal gas field in northwestern Siberia, Russia, and these ships are responsible for transporting the LNG to European and Asian markets.
South Korean President Lee Jae-myung hopes that South Korea will not miss this market, which is still in its early stages but has enormous future potential. As global climate change causes the Arctic ice to gradually melt, the Arctic shipping route connecting Asia and Europe, which was previously extremely difficult to navigate, is expected to become increasingly navigable, and related transportation demand is expected to continue to grow. During his presidential campaign last year, Lee Jae-myung stated at a rally near Busan: "The Arctic is opening up. A new door of opportunity is opening. Using the Arctic shipping route, transport time to Europe can be reduced by about one-third, and transport costs can be reduced by 30%. By the 2030s, the Arctic shipping route will become very busy."
