South Korea's Oceans minister nominee vows to create 'strategic base' for Arctic shipping route era

Seoul, July 14 (IANS) South Korea's Oceans Minister nominee Chun Jae-soo on Monday pledged to ensure the smooth relocation of the ministry's headquarters to the southeastern port city of Busan, and to work toward attracting major shipping companies there in preparation for an envisioned expansion of Arctic shipping routes.

Chun made the remarks during a parliamentary confirmation hearing in Seoul, as the new Lee Jae Myung government pushes to relocate the Ministry of Oceans and Fisheries to Busan from the central administrative city of Sejong before year-end, reports Yonhap news agency.

"We will swiftly establish a strategic hub (in Busan) in preparation for the era of Arctic shipping routes by attracting not only maritime and fisheries-related institutions but also major shipping companies. The first step is the ministry's relocation," Chun said in his opening remarks.

"The move will help us address the current Seoul-centric development structure and secure a new engine for economic growth," he added.

During his presidential campaign, Lee announced plans to relocate not only the ministry but also the headquarters of HMM, the country's largest shipping company, to Busan.

"We will seek to host the UN Ocean Conference in South Korea to demonstrate our commitment to leading the development of Arctic shipping routes," Chun said.

Arctic shipping routes are maritime passages through the Arctic Ocean that could potentially offer shorter and more efficient trade routes between Asia and Europe.

In response to climate change, Chun said he would pursue policies meant to ensure a sustainable fisheries industry, including the introduction of a total allowable catch management system and the boosting of productivity in aquaculture through smart innovation.

Chun pledged to strengthen the country's maritime and port competitiveness in an effort to build the country into "a leading maritime power" and to rapidly secure advanced technologies for eco-friendly and fully autonomous vessels.

--IANS

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