Arctic Economic Council welcomes Korea Shipowners’ Association as first sub-Arctic member

by Keith Powell
Korean ship in Arctic waters.

— Photo courtesy Korea Shipowners Association

One month after applying to become a member of the Arctic Economic Council (AEC), the Korea Shipowners’ Association (KSA) has been approved. This makes KSA the first business from a sub-Arctic state to join the AEC.

“We are honored and happy to welcome the first sub-Arctic partner to the AEC. Linking the Arctic value chains to the global ones is important to the AEC. Therefore, our aim has been from the outset to include sub-Arctic partners in our work. The Korea Shipowners’ Association will bring an important dimension to the work of our organization”, said Tero Vauraste, the Chairman of the AEC.

Meeting KSA in Korea AEC Vice Chair Robert Gudfinnson commented: “Korea in its Arctic policy has shown a commitment to sustainable development of the Arctic, and we are honored to have the first sub-Arctic member come from Korea.”

“It is my privilege and pleasure to join the Arctic Economic Council. The Korean shipping community believes that the Arctic shipping routes will bring about remarkable shifts in trade flows. In this respect, the Korea Shipowners’ Association as an Arctic Partner would like to contribute to the value of the AEC to facilitate Arctic business-to-business activities and responsible economic development.” said Mr Young-Moo KIM, Executive Vice Chairman of the Korea Shipowners’ Association.

The Arctic Economic Council is open for membership to businesses of all sizes from both inside and outside of the Arctic. The AEC’s active organizations includes a diverse collection of business industries that operate in the region.

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