South Korea and Norway will seek to boost their bilateral cooperation in the Arctic, plans that include the joint development of a new shipping route there, the South Korean government said Monday.
The countries are set to hold talks to this end Tuesday in the Norwegian capital of Oslo, according to the Ministry of Oceans and Fisheries.
"The ministry has been strengthening the country's cooperation with countries surrounding the Arctic, including Russia, as part of efforts to develop a new shipping route through the polar region," the ministry said in a press release.
"The country has especially sought to improve its bilateral cooperation with Norway, holding annual cooperation talks and seminars since the countries signed a memorandum of understanding on marine cooperation in 2012," it added.
At the upcoming talks, the countries will seek to further boost their cooperation by exchanging information on the operation safety of cruise ships, as well as their own policies on the development of shipping and cruise industries.
"They also plan to review progress in their joint project to promote the use of Arctic shipping routes and seek ways to improve the joint project," the ministry said.
South Korea launched its first-ever pilot service on a new North Pole shipping route last year as part of efforts to strengthen its presence in the polar region that is believed to hold up to 30 percent of the world's unidentified natural gas deposits and 17 percent of oil reserves.
The new shipping route can also cut the distance of travel from South Korea to northern European countries by up to 7,000 kilometers from the 22,000-kilometer journey when using the conventional shipping route through the Indian Ocean, according to the ministry.
"This week's talks will allow the countries to further boost their cooperation in areas of mutual interest as Norway is one of the leading countries in the global shipping industry with vast experience in operating a North Pole route and offshore plants," it said. (Yonhap)
