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President Lee Jae-myung delivers an encouraging address at a welcoming ceremony for a test voyage on the Arctic route held in Busan on the 13th. / Yonhap News

President Lee Jae-myung stated on the 13th, marking the return of the PanStar Arco to Busan after completing its first test voyage on the Arctic route, that "we will prepare for the era of the Arctic route by guarding against hasty optimism and preparing with a long-term perspective." The initiative aims to develop the Arctic route into a new logistics axis from a long-term view while upholding international norms and the principles of sanctions against Russia.

Delivering an encouraging address at the welcoming ceremony for the Arctic route test voyage held in Busan that day, President Lee remarked, "The recent tensions across Middle Eastern waters made us keenly aware of how severely an economy can be shaken when sea lanes are blocked. The newly opened Arctic route can serve as another sea lane to rely on and another alternative in times of crisis."

President Lee continued, "While there are voices concerned about immediate economic feasibility, building operational experience will help bolster confidence."

President Lee also laid out three principles to prepare for the Arctic route era. Emphasizing the trust of the international community, President Lee stated, "We will thoroughly comply with international norms and the international community's sanctions principles, communicating sufficiently with key partner nations and responsibly addressing concerns related to navigation."

He added, "We will strive to ensure that the new sea route does not remain an exclusive benefit for any specific nation, but leads to shared prosperity."

He also highlighted the steady accumulation of operational experience. "We will steadily build sailing experience to lay the foundation for sustainable maritime transport," President Lee said, adding, "We will make efforts to provide information support and establish financial and institutional foundations so that diverse shipping firms, cargo owners, and logistics companies can participate."

President Lee further pledged, "We will steadily invest in technologies that safeguard safety and the environment, pursuing both the protection of the Arctic ecosystem and the development of eco-friendly technologies."

Reflecting on the significance of the test voyage, President Lee noted, "It was a meaningful challenge that confirmed the potential of the Arctic route through actual cargo transport. The logbook of the Republic of Korea's Arctic voyage opens its first page here today. The government will also forge ahead to open this new route through unwavering execution."

He also presented a blueprint to connect the Arctic route with maritime industries in Busan and the southeastern region. "We must open the future of Busan and the southeastern region together," President Lee said, adding, "We will link port logistics and maritime finance in Busan, shipbuilding and eco-friendly energy in Ulsan, and shipbuilding equipment and advanced manufacturing in South Gyeongsang Province."

He continued, "Just yesterday, the Busan era of HMM, the nation's largest shipping company, began in earnest. We hope that shipping companies will grow even larger in Busan, a city where sea routes converge. The government will firmly hold hands with business."

President Lee also stated, "Even though less than a year has passed since the Ministry of Oceans and Fisheries settled in Busan, shipping companies including HMM have chosen Busan, the establishment of the Maritime Court has been confirmed, and the first test voyage on the Arctic route was completed safely. We will now further strengthen the functions of the Ministry of Oceans and Fisheries to vigorously lead the development of a 'Southern Maritime Capital Region.'"

                                                                                                         Park Young-hoon