Cheongyeong Shipping, New Ship Deployment in Vietnam Cargo Boom [Korea-Vietnam Cooperation, Shipping Takes the Lead③]

【Ho Chi Minh (Vietnam)=Kang Gu-gwi reporter】Cheongyeong Shipping (CKLINE) will deploy new ships to proactively respond to the surge in cargo volume between Vietnam and Korea. In the first half of this year, the cargo volume exported from Vietnam to Korea amounted to $13.7 billion, a 12.3% increase compared to the same period last year. The recent visit to Korea by To Lam, the top-ranking official in Vietnam, with the goal of increasing trade volume between Korea and Vietnam to $150 billion by 2030, also supports the investment in new ships.
On the 21st, Jeong Seok-woo, head of Cheongyeong Shipping Vietnam Corporation, told Financial News, "Since more than half of the company's revenue is generated from Southeast Asia, including Vietnam and Thailand, it is deemed desirable for the company's growth to align with high-growth countries," adding, "We have already made significant investments in Vietnam, and Vietnam is the top priority for new ship deployment."
Cheongyeong Shipping is a traditional Korean shipping company established in 1962. After the launch of the new ship Cheongyeongho in 1964, it began Japan-Korea service and introduced Southeast Asia service in 2010. In March 2017, it established a Vietnam corporation to break away from the existing agency-operated method.
Cheongyeong Shipping will deploy one of the two newly received 2700TEU (1TEU=1 20-foot container) ships to the 'CIK service' that passes through China, India, and Korea. From September, it will operate a container ship route via Ho Chi Minh, Vietnam. Specifically, it departs from Busan New Port, Incheon, and operates through Shanghai, Ningbo, Jakarta, Semarang in Indonesia, and Ho Chi Minh. Cheongyeong Shipping is also reviewing new shipbuilding contracts for two 1100TEU ships and additional new ship orders.
Jeong, the head of the corporation, stated, "Cheongyeong Shipping focuses on services between Korea and Ho Chi Minh, providing various sailings to shippers," adding, "Through the new CIK service, we can offer additional options for the Ho Chi Minh-Busan New Port section and effectively respond to delays in operations by increasing the number of sailings."
Currently, Cheongyeong Shipping mainly transports various finished products such as clothing and furniture, as well as wood pellets for thermal power plants and foodstuffs from Ho Chi Minh to Korea. Consumer goods are mainly transported to Incheon Port, raw materials for thermal power plants to Gwangyang and Gunsan, and finished products and transshipment cargo to Busan.
Russian service has also started. This move anticipates an increase in demand for reconstruction materials after the end of the Russia-Ukraine war. On the 15th, U.S. President Donald Trump met with Russian President Vladimir Putin in Alaska to discuss a 'peace agreement.' President Trump has been urging a quick end to the war, meeting with Ukrainian President Volodymyr Zelensky at the White House.
The Cheongyeong Shipping Vietnam Corporation consists of the Ho Chi Minh office (27 employees) and the Hanoi office (10 employees). It operates 8 services per week from Ho Chi Minh to Busan. It operates 6 services per week to Incheon. It operates 5 services per week from Haiphong to Busan. It operates 5 services per week to Incheon. It operates 3 services at the main terminals in Ho Chi Minh, including CAT-LAI Terminal and SP-ITC Terminal.
He said, "In 2025, a large number of new container ships will be delivered, increasing the supply capacity, and geopolitical risks due to the war are expected to continue," adding, "The shipping management environment is becoming increasingly difficult due to market confusion caused by U.S. tariffs and regulatory tightening due to the International Maritime Organization (IMO)'s carbon neutrality goals."
In this situation, he noted that Vietnam is Korea's third-largest trading partner after China and the United States. With an annual economic growth rate of 7-8%, it is expected to become a new breakthrough for Korean shipping companies. He explained that Cheongyeong Shipping's continued investment in Vietnam is for this reason.
Jeong has been with Cheongyeong Shipping since 2013, working in the export sales team for 12 years, and was appointed as the head of the Ho Chi Minh Corporation in March 2024. He is evaluated as a shipping expert in the Korea-Vietnam section, having grown with the expansion of Cheongyeong Shipping's Southeast Asia service and possessing diverse logistics experience. [This article was written with the support of the Ocean's Embrace Foundation and the Korea Maritime Journalists Association.] ggg@fnnews.com Kang Gu-gwi reporter