First China, now South Korea: why Asian powers are turning to commercial Arctic shipping

AI Summary

South Korea is following China in pushing the commercialisation of the Arctic shipping route to Europe, aiming to open a regular route by 2030. This initiative is part of a broader maritime development plan to prepare for the emerging Arctic shipping era.

Months of disruption through the Strait of Hormuz have prompted a rethink of global supply chains, with South Korea now following China in pushing to commercialise the Arctic shipping route to Europe. South Korea aimed to open a regular route through the waters by 2030, following a trial voyage set to debut later this year, according to a broader maritime development plan released on Tuesday by Seoul’s Ministry of Oceans and Fisheries. “To prepare for the Arctic shipping era approaching after...