South Korea Establishes New Maritime Path to Hai Phong Port

Information from the Ulsan Port Authority said that the first 17 943-ton container ship Ever Chaste, running the Hai Phong - Ulsan routes, docked at Ulsan port.
The first 17 943-ton container ship Ever Chaste, running the Hai Phong – Ulsan routes, docked at Ulsan port. Source: Ulsan Jeilbo

The 17,943-tonne container ship Ever Chaste from the Hai Phong port docked at the Republic of Korea’s Ulsan port, marking the opening of a new regular container shipping route between the two ports, VNA reported.

According to the Ulsan Port Authority, a new service operator, Evergreen Korea, plans to operate three trips to Ulsan port weekly.

It is predicted that this new shipping route will generate an annual volume of about 24,000 TEUs (1 TEU = one 20-foot container) for the port.

Jeong Sun-yo, Executive Vice President of the Ulsan Port Authority, stated that the operator will make every effort to help the new transport route connecting Ulsan Port with Vietnam in particular and Southeast Asia in general operate stably.

This year, the RoK has opened two new shipping routes from Ulsan to the port of Penang in Malaysia and Ningbo port in China. By June 2023, the Ulsan Port Authority had operated a total of 37 container shipping routes to Southeast Asia, Japan, and China.

Loading and unloading activities at Hai Phong port. Photo: VNA
Loading and unloading activities at Hai Phong port. Photo: VNA

This week, Vietnamese Minister of Industry and Trade (MoIT) Nguyen Hong Dien received RoK Ambassador to Vietnam Oh Yong-ju in Hanoi, during which he stressed that Vietnam and the RoK have become top important partners in various fields, with economic, trade, and investment cooperation serving as both pillars and primary drivers of their increasingly growing relationship.

He suggested Ambassador Oh and the RoK Embassy in Vietnam continue working closely with the MoIT and urged the Korean ministries and agencies concerned to diversify measures to boost bilateral trade and effectively carry out joint work in trade, industry, and energy, toward lifting two-way trade to 100 billion USD as soon as possible.

Ambassador Oh, for her part, conveyed the RoK side’s desire to sign several documents with the MoIT, including a Memorandum of Understanding (MoU) on the establishment of the Vietnam-Korea Centre for Essential Mineral Supply, an MoU on the establishment of Korea Plus in Vietnam and Vietnam Plus in Korea, and a Joint Statement on the establishment of an electronic Certificate of Origin data exchange system between the MIT, the General Department of Vietnam Customs, and the Korea Customs Service.

She said despite the complex fluctuations in the global economy, Korean businesses still show interest in establishing or expanding their manufacturing facilities in Vietnam, particularly in core technology sectors such as energy batteries or semiconductors.

The ambassador affirmed that she will always strive to foster a strong and substantive Vietnam-RoK comprehensive strategic partnership.

The MoIT is ready to support cooperation activities between Korean businesses and Vietnamese organizations to bring balanced benefits for all parties in accordance with Vietnam’s laws and regulations, said Dien.

Hannah Nguyen

The post South Korea Establishes New Maritime Path to Hai Phong Port appeared first on Vietexplorer.com.

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