Inter Korean Summit Talks Anticipated to Be Helpful in Enhancing Shipp

Shipping Companies are taking note of the news that summit talks will
be held in Pyongyang this June. Following the Berlin Declaration in M
arch, this news is being seen as a turning point in the relations betw
een South and North Korea. Inter-Korea exchanges began with the marit
ime sector, as is seen from the opening of the sea route to the Mt.Kum
gang and the transportation of relief supplies to North Korea. Shippi
ng and fisheries industries are expected to have an early and essentia
l role in this detente. In detail, port facilities in North Korea shou
ld be renovated and expanded. Sea routes, unlike highways and railroa
ds which require much money and time for completion, can be opened wit
h relative ease and convenience. Therefore, the greater part of the i
nitial interchange of supplies is expected to be transported by sea.
Also, additional sea routes are expected to open for the purpose of s
upporting goods interchange between the two Koreas. At present, two co
ntainer routes and the route to Mt. Kumgang are in service. It is felt
that the opening of other routes between Incheon and Haeju or Pusan a
nd Chongjin is inevitable