Oceans ministry relocates headquarters to Busan

The Ministry of Oceans and Fisheries has relocated its headquarters to the southeastern port city of Busan to ensure the timely development of Arctic shipping routes, the ministry said Tuesday. The ministry’s relocation from the administrative capital of Sejong to Busan was one of the key campaign pledges made by President Lee Jae Myung. After taking office in June, Lee advocated for opening a new maritime route through the Arctic Ocean to reduce maritime logistics costs between Asia and Europe. He pledged to spare no efforts in elevating Busan’s footing as an industrial and logistics hub in Northeast Asia. “The government will provide enough financial and administrative support for Busan to achieve a major leap forward as a pivotal logistics hub in Northeast Asia,” Lee said during a Cabinet meeting held at the relocated oceans ministry headquarters. “Busan will take center stage to drive an era of Arctic shipping routes, and the government will offer policy support for the city to expand its port facilities, offer more value-added services and achieve regional industrial growt