Korea's oceans minister pushes Busan as global maritime capital

South Korea is racing to transform Busan into a global maritime capital, with its Ministry of Oceans and Fisheries drawing major shipping firms to the southeastern port city and an international maritime court set to open there in 2028, Minister Hwang Jong-woo said Wednesday.

The initiative reflects Seoul's push to position South Korea at the center of an emerging Arctic shipping corridor that could cut transit times between Asia and Europe, while also anchoring new economic growth in the country's southeastern region.

The Ministry of Oceans and Fisheries relocated its headquarters from Sejong to Busan in December 2025, a move that officials framed as the cornerstone of a broader effort to cluster maritime institutions in the port city. SK Shipping and H-Line Shipping have since moved their headquarters to Busan, and HMM — South Korea's largest shipping company — has committed to relocating its own, the ministry said.

An international maritime court is scheduled to open in Busan in 2028, the same year South Korea will host the United Nations Ocean Conference, milestones the ministry said will cement the city's standing as a global maritime center.

Hwang cited the growing concentration of shipping industry players as the foundation for a larger economic vision. "With the possible establishment of a state-run corporation for investment in the southeastern region, the envisioned maritime capital equipped with administrative, judicial, corporate and financial infrastructure will serve as a new growth engine for Korea," Hwang said in a ministerial statement.

South Korea's seafood exports reached a record $3.33 billion in 2025, a 9.7 percent increase over 2024, according to the ministry. The government has set a 2026 export target of $4.2 billion as demand for Korean seafood grows abroad.

With Arctic sea routes expected to grow more navigable in coming decades, the ministry said Busan's transformation into a maritime hub is designed to put South Korea at the center of a fundamental shift in global shipping geography.