Seoul, February 17 (SocialNews.xyz) The government here on Monday closely monitored changes in US trade policies and the impact on South Korea’s shipping industry, and the stable operation of local shippers He said he would devise measures to support the
“No special issues have been reported regarding the shipping of exports and imported products,” Minister Oceans de Hyun said at a press conference.
However, Kang said that support local industries as the government closely monitors the situation and that President Donald Trump’s protectionist trade policy, including new tariffs, could put “downward pressure” on shipping costs in the long term. He said he would devise a measure. The shipping company reports Yonhap News Agency.
“In the short term, US tariffs could increase marine cargo rates, but in the long term it could cause downward pressure,” he said.
Kang could also undermine the Seoul and Washington push to create carbon-free transport routes between the two countries by 2027 as Trump vowed to promote fossil fuel use and focus less on clean energy He said it was sexual.
In 2022, the two sides agreed to jointly operate a “green transport route” aimed at connecting the ports in Busan and Urusan city in the southeast of South Korea with the ports in 2027.
A green transport corridor refers to the route in which the vessel releases zero carbon through natural-friendly technology and non-carbon fuels.
“The Department of Oceans will continue to communicate with the US and highlight the mutual benefits of both projects,” Kang said.
The Minister of Oceans said the government will promote the interests of Korean companies by minimizing the taxes that are collected if carbon taxes are adopted worldwide.
The international maritime organization will discuss with member states that will charge carbon taxes to shipping companies starting in 2027.
In a recent series of fishing boat accidents, Kang said his ministry is working to implement various safety measures.
Last week, a 12-person fishing boat on board fired in waters near Boon, about 200 km southwest of Seoul, killing two people, five people missing, and the remaining five were rescued.
Another fishing boat capsized in the waters of a southern Jeju island, killing two people, three people missing, and five other crew members were rescued.
In 2024, the government reported 119 deaths from fishing boat accidents, an increase of 41 from the previous year. This figure was the highest since 2014, when the corresponding tally stood at 133.
Source: IANS
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