Busan: President Lee Jae Myung on Wednesday pledged to foster shipping and port industries as national strategic sectors in an effort to establish unhindered maritime supply routes. Lee unveiled the plan in a speech at a ceremony in Busan marking the country's Day of Seas, which falls on Sunday, reaffirming the government's plan to establish a global maritime hub in the city and surrounding areas.

According to Yonhap News Agency, Lee emphasized that the shipping industry is not merely a logistics sector but a core industry buttressing the national economy and security. The government plans to foster the shipping and port businesses into national strategic industries. The president outlined efforts to accelerate the recovery of global maritime supply chains, aiming to establish new sea supply networks that can be completely managed by South Korea. Lee underscored the importance of ensuring maritime security and leadership amid uncertainties stemming from shifts in the global trade order and supply chains.

In this context, South Korea aims to become a central axis linking Eurasia and the Indo-Pacific, safeguarding freedom of navigation for neighboring countries and upholding an open trade order. The president assured that the government will spare no effort in helping the maritime industry secure global leadership.

Under the global maritime hub vision, South Korea seeks to open a regular shipping route connecting the country and Europe through the Arctic region in 2030. This move comes amid growing global competition to utilize polar regions for energy, logistics, and military purposes. President Lee described the maritime hub plan as a survival strategy for South Korea in coping with global competition, noting that the country's southeastern region has the potential to become the world's best maritime base.

Lee further stated that as soon as relevant deliberations by the National Assembly are complete, the government will swiftly complete building a maritime cluster. The plan includes enhancing port, airport, and road infrastructure, alongside establishing a tourist belt along the southern coast under the maritime hub vision.