Seoul: Oceans Minister nominee Chun Jae-soo has committed to facilitating the relocation of the Ministry of Oceans and Fisheries to Busan and is focused on attracting significant shipping firms to the city. This initiative is in preparation for the anticipated expansion of Arctic shipping routes.
According to Yonhap News Agency, Chun shared these plans during a parliamentary confirmation hearing in Seoul as part of the Lee Jae Myung administration's efforts to move the ministry from Sejong to Busan by the end of the year. Chun emphasized the strategic importance of establishing a hub in Busan, which would involve not only maritime and fisheries-related institutions but also major shipping companies. The relocation is seen as a step toward decentralizing development from Seoul and fostering new economic growth opportunities.
In line with Lee's presidential campaign promises, there are plans to relocate the headquarters of HMM, the largest shipping company in the country, to Busan. Chun also expressed intentions to host the UN Ocean Conference in South Korea to highlight the nation's role in developing Arctic shipping routes. These routes, which traverse the Arctic Ocean, offer the potential for shorter and more efficient trade between Asia and Europe.
Facing climate change challenges, Chun aims to implement policies that support a sustainable fisheries industry. This includes introducing a total allowable catch management system and enhancing aquaculture productivity through smart innovation. Chun also promised to boost the country's maritime and port competitiveness, aspiring to establish South Korea as a leading maritime nation with advanced technologies for eco-friendly and autonomous vessels.