New oceans minister vows efforts to turn Busan into hub for maritime industry
"With the relocation of the Ministry of Oceans and Fisheries to Busan, the government will bring together administrative, industrial and financial functions in the city to open a new frontier in maritime and fisheries while laying the foundation for a new leap forward of the sectors," Oceans Minister Chun Jae-soo said in his inaugural address.
"The ministry's relocation to Busan will mark a turning point in our national strategy to equip South Korea with a new growth engine based on the ocean economy," he added.
Chun said Busan, Korea's largest port city located about 325 kilometers southeast of Seoul, will serve as the strategic base of the country's maritime industry in light of the anticipated expansion of Arctic shipping routes.
Arctic shipping routes refer to maritime passages through the Arctic Ocean that could potentially offer shorter and more efficient trade routes between Asia and Europe.
The relocation plan was one of President Lee Jae Myung's key election campaign pledges aimed at developing Busan into a leading global maritime hub and dispersing the excessive concentration of economic assets in Seoul. (Yonhap)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
32 minutes ago
- Korea Herald
Senior Seoul official notes possibility of USFK role change due to 'various factors'
Senior Seoul official notes possibility of USFK role change due to 'various factors' WASHINGTON (Yonhap) -- A senior South Korean official made a rare mention Thursday of a possible change in the role of the US Forces Korea (USFK), amid speculation that US President Donald Trump's administration may seek to shift the focus of its mission to deterring China rather than countering North Korean threats. The official made the remarks in a meeting with South Korean correspondents in Washington as the Trump administration is seeking to "modernize" the South Korea-US alliance to make it "strategically sustainable" in the midst of an intensifying Sino-US rivalry. "I think there can be a change in the role and character of the USFK due to various factors," he said. The official pointed to the evolving international security environment, technological shifts and a "growing strategic role" of China, as he enumerated the factors that could drive a possible shift in the role of the 28,500-strong USFK. However, he cautioned against misconstruing his remarks, saying his talk of a possible change in the USFK role does not mean he concurs on the US view in support of the change. "Allies cannot see eye to eye perfectly with each other on everything," he said. As the Pentagon is working on crafting its National Defense Strategy to prioritize deterring China, speculation has persisted that the Trump administration might pursue greater "strategic flexibility" of the USFK to use it for a wider range of security operations beyond the Korean Peninsula. Opponents of a shift in the USFK role argue that it could lead to a weakening of efforts by Seoul and Washington to deter North Korea's advancing nuclear and missile threats, and that the potential use of the USFK for a mission against China would needlessly put Seoul in a geopolitically challenging position. US Under Secretary of Defense for Policy Elbridge Colby has advocated for a shift in the USFK mission, saying American troops in South Korea should not be "held hostage to dealing with the North Korean problem." The future direction of USFK operations is likely to be a key agenda item as South Korea and the US are expected to have earnest discussions on a shared understanding of where their longstanding alliance should be headed for. The official's remarks came after Foreign Minister Cho Hyun held his first talks with US Secretary of State Marco Rubio since the launch of President Lee Jae Myung's administration.
Korea Herald
5 hours ago
- Korea Herald
Top S. Korean, U.S. diplomats reiterate 'resolute' commitment to N.K. denuclearization
The top diplomats of South Korea and the United States reaffirmed the allies' "resolute" commitment to the "complete" denuclearization of North Korea and the "full" enforcement of sanctions against it during their talks in Washington on Thursday, a State Department spokesperson said. Foreign Minister Cho Hyun and US Secretary of State Marco Rubio held their first talks since the launch of the Lee Jae Myung administration last month, as Seoul and Washington face a series of cooperation issues, including preparations for a summit between Lee and US President Donald Trump. Their meeting came just a day after Trump announced a trade deal with Korea, saying that his summit with President Lee will take place at the White House in two weeks. "Secretary Rubio and Foreign Minister Cho also reaffirmed their resolute commitment to the complete denuclearization of the DPRK, the full implementation of international sanctions, and expressed serious concerns about North Korea's increasing military cooperation with Russia," Tammy Bruce, the spokesperson, said in a readout. DPRK is short for the North's official name, the Democratic People's Republic of Korea. The chief diplomats' show of unity against North Korean nuclear threats came days after Kim Yo-jong, the influential sister of North Korean leader Kim Jong-un ruled out the possibility of talks on the North's denuclearization, while noting the personal relationship between Trump and Kim is "not bad." (Yonhap)
Korea Herald
15 hours ago
- Korea Herald
Lee calls for building next-generation power grid with focus on renewable energy
President Lee Jae Myung on Thursday called for establishing a next-generation power grid as he underscored the importance of shifting the country's power supply infrastructure to one that centers on renewable energy. "Energy transition has become an essential task," Lee said as he presided over a meeting of senior presidential aides. "On top of an artificial intelligence (AI) revolution, the supply of renewable energy through power grid improvement has become very urgent." Lee instructed the government to draw up measures to establish a next-generation power grid that lowers the inefficiency of long-distance power transmissions and makes use of cutting-edge AI technology. The presidential office said the government will turn South Jeolla Province into a hub for such a plan, noting the region's potential for supplying renewable energy. Kim Yong-beom, the presidential chief of staff for policy, said in a press briefing that the government plans to establish industrial complexes for renewable energy micro grids by using steel and petrochemical industrial complexes in the region. The government will allocate about 200 billion won (US$143 million) next year for a pilot project to establish a next-generation power grid by building microgrids in the region's university, airport and military units, and connecting them, according to Kim. The presidential official said Lee aims to nurture the country's energy industry into one akin to the chip industry, and eventually seek to export electricity technology and products. (Yonhap)
