Although geopolitical factors are not conducive to active cooperation at the moment, South Korea needs to be ready to engage with Russia on the use of the Northern Sea Route (NSR), Director of Youngsan University’s Institute of Arctic Logistics said at the 8th Arctic Partnership Week in Busan, South Korea on 12 December.
In his report “The NSR's Year-Round Operation and Korea's Reaction," the expert noted that the largest South Korean port of Busan has an advantageous geographical location in terms of cargo transportation along the Northern Sea Route.
Analysing the possible options for cooperation between Russia and South Korea in this area, he noted that “there is a need to find ways to separate politics from economics and business by preparing appropriate options at various stages.”
The expert stated that South Korea has a sufficient number of small and medium-sized international maritime transport companies, including those with extensive experience in their field. Their capabilities would allow them to work on the Northern Sea Route and participate in relevant projects.