The South Korean government is pushing its Arctic strategy forward: for the first time, the 2026 draft budget allocates substantial funds for the construction of ships specifically designed for operations in Arctic waters. With this, Seoul is laying the foundation for planned pilot voyages along the northern sea routes.
On September 11, 2025, Minister of Oceans and Fisheries Chung Jae-soo announced that each ice-capable vessel will receive 11 billion won (approximately 6.5 million euros) in funding from the ministry’s budget. According to Chung, the decision is based on a study by Pohang University of Science and Technology (POSTECH), which assumes that Arctic shipping corridors could be fully usable by 2030.
In addition, the government is allocating 1.66 trillion won (1.15 billion euros) to modernize strategically important ports such as Jinhae in Busan and the port of Gwangyang. These investments aim to create the logistical conditions for future Arctic traffic. Complementary funding will go into research and technological development, including the construction of next-generation ice-capable research vessels and the establishment of a specialized training program for polar ship engineers.
The geopolitical dimension is also coming into sharper focus. On September 19, Foreign Minister Cho Hyun stated that a resumption of Arctic cooperation with Russia would in principle be possible once the war in Ukraine ends. The Northern Sea Route remains a key future trade route for South Korea, even though joint projects have largely been frozen since 2022.
South Korean shipyards have long been among the most important producers of the globally deployed Arc7 tanker fleet, particularly for Russian clients. Hanwha Ocean (formerly DSME) played a major role in building LNG tankers for the Russian NOVATEK project “Arctic LNG-2.” However, due to Western sanctions, this work has come almost entirely to a standstill.
Heiner Kubny, PolarJournal