• 2024 March 22 11:04

  South Korea vows continued support for exporters amid Red Sea shipping crisis

  

  The oceans ministry on Thursday vowed to continue providing support to exporters as they felt heat from a shipping lane crisis in the Red Sea, according to Yonhap.

  "There are growing concerns regarding the lingering disruption of shipping in the Red Sea that has continued for around three months," Vice Oceans Minister Song Myeong-dal said during an emergency response meeting.

  "We will continue to monitor the trends in shipping costs and provide support to companies facing challenges," Song added.

  The government data showed earlier this month that container shipping costs from Europe to South Korea soared nearly 40 percent in February amid continued tensions surrounding the Red Sea.

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