South Korea's first Arctic shipping container ship to and from Europe returns home. Lee Jae-myung attends the welcome ceremony

South Korean President Lee Jae-myung attended a welcoming ceremony on the 13th to welcome the first South Korean container ship and its crew to travel to and from Europe via the Arctic route. The ship returned to South Korea on the 11th, completing its 50-day voyage.

According to Reuters, Lee Jae-myung presented a wreath to the captain and crew of the container ship "PanStar Acro" at a welcome ceremony in Busan. During the 50-day voyage, the ship stopped at Felixstowe in the UK, Rotterdam in the Netherlands and Gdansk in Poland.

Lee Jae-myung said that South Korea has deeply realized how seriously the South Korean economy will be affected when existing sea lanes are blocked. The newly opened Arctic sea lanes can become another sea lane that South Korea can rely on in times of crisis. The blockade of existing waterways in this statement refers to the impact of the war in the Middle East on shipping routes.

South Korean authorities point out that the Arctic route has become more accessible as sea ice coverage in the northern seas shrinks due to climate warming. It is expected to reduce sailing time by about one-third compared to the route via the Suez Canal.

South Korea’s Minister of Oceans and Fisheries Hwang Jong-woo claimed that South Korea plans to conduct further trial voyages in 2027, with participating ships including container ships and car carriers, with the goal of officially opening regular shipping services in 2030.

Huang Zhongyu predicts that this route will become economically feasible around 2040. He added that within 15 years ships may use the route for more than six months per year.