The impact of climate change and global warming is bad news to many but some industries are actually taking advantage of it.
The receding ice around the North Pole is opening up the fabled Northern Sea Route which means a significant increase in global shipping traffic.
According to the Korea Maritime Institute, the number of vessels operating in the Arctic Sea stood at 24 last year a significant increase from the 69 vessels total in the last century.
In an interview with a Korean daily, Seoul's Land, Transport and Maritime Affairs Minister Chung Jong-hwan said the new route, hugging the Arctic shores of Russia, would give Korea's southeastern port of Busan a distinct advantage over Asian rivals Singapore, Hong Kong, and Shanghai.
This is because the sea journey from Busan to Rotterdam, Netherlands can now take as little as two weeks ten days less than the traditional route through the Suez Canal. |
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Source: arirang
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