Shipping route at risk... Pohang~Ulleung Ulleungdo passenger ferry faces 'Juldosan' crisis

Abolition of Resident Discounts and Declining Tourists
Triple Hardship with Uncertainty Over Ultra-High-Speed Ferry Operation

Since 2021, the Ulleungdo sea route, which had been thriving, is now facing a series of setbacks such as the abolition of resident discounts and uncertainty over the operation of the ultra-high-speed ferry, causing concerned voices among Ulleung residents.

Ulleung Cruise Sidao Pearl (above) and Daejeo Ferry Eldorado Express (below) traveling between Pohang and Ulleungdo.

Ulleung Cruise, which operates the 20,000-ton large ferry ‘New Shidao Pearl,’ sent an official letter to Ulleung County last November stating that it could no longer maintain the 20% resident fare discount due to worsening business conditions.

Ulleung Cruise claimed, “We have been accumulating deficits every year, and last year recorded a loss of about 3.5 billion KRW. Under these circumstances, it is difficult to continue offering resident fare discounts.”

The decision by Ulleung Cruise to abolish the discount inevitably leads to an increased financial burden on Ulleungdo residents. Although residents receive partial fare discounts on passenger ships through government and local government support, without the ferry company’s discount, residents will have to bear a larger portion of the cost themselves.

Adding to the troubles, the operation of the ultra-high-speed public ferry ‘Eldorado Express,’ the fastest ship connecting Ulleungdo and the mainland, has also become uncertain. The ferry company, Daejeo Ferry, is suffering from severe financial difficulties due to failure to pay the shipbuilding costs on time.

Daejeo Ferry has even claimed that if Ulleung County does not pay the promised operating deficit compensation, the ferry could be taken away to another region. If the operation of the Eldorado Express is suspended, the inconvenience to tourists visiting Ulleungdo will inevitably increase.

In fact, the number of tourists visiting Ulleungdo has been steadily decreasing recently, from 460,000 in 2022 to 400,000 in 2023, and 380,000 in 2024.

The current crisis on the Ulleungdo sea route is not just a matter of passenger ferry companies’ financial difficulties but also a threat that could lead to inconvenience in the daily lives of Ulleungdo residents and a contraction of the entire Ulleungdo tourism industry.

An official from Ulleung County said, “We are working with related organizations to resolve this issue, but have yet to find a sharp solution,” adding, “Urgent and active support and efforts from the government and local governments are needed to overcome the crisis on the Ulleungdo sea route.”