South Korea's oceans ministry said Monday it will focus on addressing uncertainties in the global shipping industry to sustain momentum in the country's exports this year, according to Yonhap.
"In order to proactively respond to the reshuffling of the global shipping network, the government plans to support South Korean shippers in securing more vessels and diversifying their routes," the Ministry of Oceans and Fisheries said in a policy briefing to acting President Choi Sang-mok.
To this end, the ministry outlined measures such as deploying additional ships and providing cargo space for small and medium-sized enterprises in the event of disruptions to major shipping routes. It also announced a preliminary feasibility study for the development of fully autonomous ships.
Financial support will be provided to shipping firms to expand the fleet of eco-friendly vessels, aiming to increase their proportion from 7.8 percent to 10 percent this year. The ministry will also seek to successfully host the 10th Our Ocean Conference and the Asia-Pacific Economic Cooperation Ocean-Related Ministerial Meeting in 2025.
"The meetings will help South Korea secure leadership in the global maritime sector and enhance its international reputation," it said. The ministry also unveiled plans to strengthen partnerships in the fisheries industry with key countries, such as the United States and Japan. In addition, the government will draft a blueprint for enhancing the management of the easternmost islets of Dokdo.
"This year, the maritime industry faces challenges, including disruptions in the logistics supply chain caused by growing protectionism and instability in seafood production due to climate change," Oceans Minister Kang Do-hyung said, adding that the ministry will support efforts to revitalize the economy.