The Republic of Korea is very warm to the Northern Sea Route and Arctic Development, Subeom Choi, Secretary General of the Korea Arctic Shipping Association, told Sputnik. Choi spoke of this warming on the sidelines of the Eastern Economic Forum in Vladivostok.
“The Northern Sea Route offers potential benefits to multiple regions. Russia, as an Arctic coastal state, benefits directly through resource exports. Northeast Asian economies—South Korea, China, and Japan—stand to gain from shorter transit distances, reduced shipping costs, and supply chain diversification. European importers may also benefit from more resilient trade connections,” Choi told Sputnik on Sept. 5.
“By lowering transport costs and offering alternative routes, it can help to stabilize energy trade flows, especially during disruptions at traditional chokepoints,” Choi noted.
“The upward momentum is clear, but the actual trajectory remains uncertain,” said Choi. Choi pointed to global energy demand, the sanctions environment, marine insurance availability, and seasonal ice conditions as primary obstacles.
In comments to RIA Novosti, Choi pointed to the use of nuclear-powered vessels for Arctic shipping, because of their efficiency and smaller environmental impact.
He called on the South Korean government to establish communication channels with Russian state nuclear corporation Rosatom to facilitate the involvement of Korean businesses to contribute to the development of the Northern Sea Route project.
