Amid worsening conditions in the Middle East, export-import corporations are said to be struggling with container cargo transport.
In response, the Ministry of Oceans and Fisheries held a meeting on the 18th, chaired by Vice Minister Kim Seong-beom, to review export-import logistics related to the Middle East situation.
Officials from the Korea International Trade Association and the Korea SMEs and Startups Agency (KOSME) who attended the meeting shared on-site challenges.
As global carriers have suspended operations in the Middle East, some routes have been canceled entirely.
Container ships that have already departed are also waiting without entering the waters in question, delaying operations.
The number of ships waiting in nearby waters is increasing, and with international oil prices rising, freight rates and insurance premiums have also jumped, adding to corporations' expense burdens.
An official at the Ministry of Oceans and Fisheries (MOF) said, "From the standpoint of small and midsize companies, the sudden situation has led to unexpected expense," adding, "For example, container freight rates have surged from the previous $1,000 level to $3,000–$4,000, significantly increasing the burden."
At the meeting, the Ministry of Oceans and Fisheries (MOF) heard corporations' difficulties and shared national carriers' operating plans and progress in finding alternative routes.
Vice Minister Kim Seong-beom said, "As logistics uncertainty persists due to escalating tensions in the Middle East, the government and related agencies must unite and respond as one," adding, "We will strengthen our cooperation system to ensure immediate support can be provided without missing on-site difficulties."