The Northern Sea Routes and Korea's Trade with Europe: Implications for Korea's Shipping Industry

Asian Countries and Arctic Shipping: Policies, Interests and Footprints on Governance

“…Because most studies of Asian-state interest in the Arctic assume that shorter sealanes to Europe are a major driver, we begin by examining the prominence of shipping concerns in the Arctic policy statements of major Asian states. 6 Contrary to the impression left by many analysts, these policy documents-those by Japan and Korea in particular-reveal soberness rather than optimism with respect to Arctic sea routes, highlighting the remaining limitations and the need for more in-depth feasibility studies. This greater caution from policymakers than from analysts can be explained by our second finding: in Korea and Japan, maritime-sector bureaucracies responsible for industries with Arctic experience have been closely involved in policy development, more so than in China.…”

The impact of adding the Northern sea route to the Belt and Road Initiative for Europe: A chain cost approach

“…Thereafter, the research into the economic benefits can be split into two approaches, macroeconomic and microeconomic. The number of macroeconomic papers is limited (Francois et al, 2013, Ha and Seo, 2014, Bekkers et al, 2018, Liu et al, 2019, Zeng et al, 2020, and a major drawback of these papers is the fact that crucial aspects of the NSR do not seem to be accounted for. A very good point of these models is the incorporation of the link between trade volumes and prices.…”

“…This simplification allows the Admiralty Constant to be easily applied to both the speed reduction and potential draft reductions (Pruyn, 2016). Many of the discussed NSR papers do not consider the impact of a draft reduction on fuel consumption (BUCHAN, B., 1995, Furuichi and Otsuka, 2013, Ha and Seo, 2014, Lasserre, 2014, Liu and Kronbak, 2010, Mulherin et al, 1999, Otsuka et al, 2016, Schøyen and Bråthen, 2011, Theocharis et al, 2019, Wan et al, 2018, Xu et al, 2011, Zeng et al, 2020, Zhang et al, 2016. However, the impact is significant, especially as a smaller weight per container is assumed here.…”

An Extended Literature Review to Analyses the Economic Impact of Global Warming on Shipping Routes of Developing Countries

“…Zhang, Meng and Zhang (2016) focused on the broader geographical and economic implications for the Adriatic region countries. Implications for Africa and other developing countries not considered (Button et al, 2017;Hong, 2012) Mentions broad impact the new Arctic route may have around Africa and Latin America without specific data input (Ha and Seo, 2014). Limited to Korean and Northern Europe Exclusion of impact on developing countries/continents e.g.…”