'Opening a New Path in Global Logistics'... Jeonnam Province Accelerates Development of Yeosu and Gwangyang Ports as Arctic Route Hub Ports

【Financial News Muan=Reporter Hwang Tae-jong】Yeosu and Gwangyang Ports are being developed as hub ports for the Arctic route.
 Jeonnam Province announced that on the 11th, a policy seminar was held at the Wangin Room of the provincial office under the theme of 'The Era of the Arctic Route, Roles and Growth Strategies of Yeosu and Gwangyang Ports' to discuss strategies and implementation tasks for developing Yeosu and Gwangyang Ports as hub ports for the Arctic route.
 Experts in the fields of shipping ports and industry participated in the policy seminar to conduct keynote presentations and comprehensive discussions, exploring new possibilities and development directions for Yeosu and Gwangyang Ports in the changing global logistics environment.
 According to Jeonnam Province, Yeosu and Gwangyang Ports are specialized ports for handling crude oil and bulk cargo. They have a high structural linkage with the Arctic route, making it possible to play a differentiated role from other ports.
 In particular, considering that as of 2023, 99% of the ships operating on the Arctic route were non-container cargo ships such as crude oil, LNG, and iron ore, it is analyzed that Yeosu and Gwangyang Ports have high industrial linkage with the Arctic route, thus possessing competitiveness as logistics hubs. The case of Hyundai Glovis, which in October 2013 used the Arctic route to transport 43,838 tons of naphtha from Ust-Luga Port in Russia to Gwangyang Port, is evaluated as an important turning point proving the potential of Yeosu and Gwangyang Ports as logistics centers for the Arctic route.
 At the seminar, strategies for developing Yeosu and Gwangyang Ports as hub ports for the Arctic route were presented, including △development of pioneering ports for the Arctic route centered on crude oil and bulk cargo △creation of specialized LNG marine bunkering ports △establishment of export-import intermediary bases for storing and distributing energy resources.
 Kim Young-rok, Governor of Jeonnam Province, said, "Yeosu and Gwangyang Ports have strengths in transporting special cargo such as crude oil and minerals, and have the foundation to actively respond to logistics demand linked to Arctic resources," adding, "We will foster Yeosu and Gwangyang Ports as logistics hub ports in Northeast Asia leading the new government's Arctic route era."
 Meanwhile, Jeonnam Province plans to hold the '2nd Arctic Route Policy Seminar' at the National Assembly on August 13 with local lawmakers and experts to discuss the necessity of developing Yeosu and Gwangyang Ports as hub ports for the Arctic route and policy responses.

hwangtae@fnnews.com Reporter Hwang Tae-jong