President Lee: Arctic Route as a New Maritime Path During Crises

President Lee Jae-myung welcomed the return of the Panstar Acro, the first domestic container ship to successfully complete a round trip on the Arctic route, stating, "We will prepare with a long-term perspective for the era of the Arctic route."

During a welcoming ceremony held in Busan, he remarked, "When I said I would develop the Arctic route to make Busan a maritime capital, many laughed, thinking it was a dream, but it is gradually becoming a reality."

He also reaffirmed the vision of the 'Southern Maritime Capital' centered around Busan and the southeastern region, noting, "When I said I would swiftly relocate the Ministry of Oceans and Fisheries to Busan and attract shipping companies like HMM, many scoffed, but that has also become a reality."

President Lee described the recent trial voyage as a "meaningful challenge that confirmed the potential of the Arctic route through actual cargo transport."

The Panstar Acro completed the journey from Busan to the UK via the Arctic Ocean in about 20 days, a significant reduction from the nearly month-long route through the Red Sea and Suez Canal. The ship also gathered experience and data on navigating in the Arctic without icebreakers during the summer months.

He emphasized, "We are experiencing how much the South Korean economy can be shaken when maritime routes are blocked due to recent tensions in the Middle East. The Arctic route can serve as another maritime path and option during crises."

In response to concerns about the route's immediate economic viability, he stated, "As we accumulate operational experience and cargo volume, we can reduce costs and enhance service reliability. It is too late to prepare only when it becomes necessary."

He added, "While we must be cautious of premature optimism, we will prepare for the era of the Arctic route with a long-term perspective, supporting various shipping companies and logistics firms with information, finance, and institutional foundations."

President Lee committed to strictly adhering to international norms and principles of sanctions against Russia during the operation of the Arctic route. He stated, "We will open the Arctic route with the trust of the international community and strive to ensure that this new route does not remain a monopoly for specific countries but leads to shared prosperity."

He also promised investments in safety and environmental areas, highlighting key tasks such as developing eco-friendly ship technology, transitioning to low-carbon fuels, enhancing ice prediction and navigation support, expanding Arctic research, and training specialized personnel for polar regions.

President Lee announced plans to accelerate the vision of the Southern Maritime Capital, which aims to connect the industrial bases of Busan, Ulsan, and Gyeongnam. This plan includes linking Busan's port, logistics, and maritime finance with Ulsan's shipbuilding and eco-friendly energy sectors, as well as Gyeongnam's shipbuilding materials and advanced manufacturing industries.

He stated, "We will ensure that companies grow locally in shipbuilding, repair, fuel supply, workforce training, finance, and insurance, leading to good job creation."

The President also decided to strengthen the functions and authority of the Ministry of Oceans and Fisheries, stating, "The ministry will be equipped with the authority and policy coordination capabilities commensurate with its new responsibilities for the Arctic route and the development of the maritime capital, enhancing its ability to solve on-site issues."

He concluded, "While the navigation log of the Panstar Acro on the Arctic route has been completed, the navigation log of South Korea's Arctic route has just begun here. The next chapter will tell the story of South Korea as a maritime power opening the future at sea."

About 200 people attended the welcoming ceremony, including the crew and families of the Panstar Acro, the Minister of Oceans and Fisheries, the Mayor of Busan, and representatives from the shipping industry. President Lee presented flower garlands and bouquets to the captain and crew and awarded plaques of appreciation to those who contributed to the success of the trial voyage.