Discussion on Strategies to Foster a Core Hub for Arctic Resource Transportation
Leveraging Strengths in Transporting Specialized Cargo such as Crude Oil and Minerals
Jeollanam-do Governor Kim Youngrok is taking a commemorative photo with key attendees at the 'Yeosu Gwangyang Port' Arctic Route Hub Port Policy Seminar held on the 11th in the Wangin Room of the provincial office. Provided by Jeonnam Province
On July 11, Jeollanam-do held a policy seminar in the Wangin Room of the provincial office under the theme "The Era of the Arctic Route: The Role and Growth Strategy of Yeosu Gwangyang Port," focusing on strategies and action plans to foster Yeosu Gwangyang Port as a hub port for the Arctic Route.
At the policy seminar, experts from the maritime, port, and industrial sectors participated to deliver keynote presentations and engage in comprehensive discussions, exploring new possibilities and development directions for Yeosu Gwangyang Port amid the changing global logistics environment.
Yeosu Gwangyang Port is a port specialized in handling crude oil and bulk cargo. It has the advantage of a high degree of industrial connectivity with the Arctic Route, enabling it to play a differentiated role compared to other ports.
In particular, considering that as of 2023, 99% of vessels operating on the Arctic Route were non-container cargo ships such as crude oil, LNG, and iron ore carriers, it is analyzed that Yeosu Gwangyang Port has strong industrial connectivity with the Arctic Route and is competitive as a logistics hub.
During the seminar, the following strategies were proposed to develop Yeosu Gwangyang Port as a hub port for the Arctic Route: fostering the port as a pioneering base for crude oil and bulk cargo along the Arctic Route; establishing a specialized LNG marine bunkering port; and building an import-export relay base for the storage and distribution of energy resources.
In October 2013, Hyundai Glovis, as the first Korean shipping company, transported 43,838 tons of naphtha from the Russian Ust-Luga Port to Gwangyang Port via the Arctic Route. This case is considered a significant turning point that demonstrated the potential of Yeosu Gwangyang Port as a logistics center for the Arctic Route.
Kim Youngrok, Governor of Jeollanam-do, stated, "Yeosu Gwangyang Port has strengths in transporting specialized cargo such as crude oil and minerals, and it is equipped to proactively respond to logistics demand linked to Arctic resources. Going forward, we will foster Yeosu Gwangyang Port as a logistics hub port in Northeast Asia that will lead the new administration's Arctic Route era."
Jeollanam-do plans to hold the "2nd Arctic Route Policy Seminar" at the National Assembly on July 31, together with local lawmakers and experts, to discuss the necessity of developing Yeosu Gwangyang Port as an Arctic Route hub port and explore policy responses.
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