Hyundai Merchant Marine, the nation''s largest container carrier, is
seeking to sail through Arctic Ocean routes, north of Russia.

According to the shipping industry, Friday, the Seoul-based company
is considering trial runs as early as 2020. If successful, it would
be the first time for a Korean player in the sector to carry cargo
through the maritime routes on a regular basis.

"Hyundai is expected to explore the routes, using 2,500 to 3,500
twenty-foot equivalent unit (TEU) ships," an industry source said.

Korean ships, now using the conventional shipping route through the
Indian Ocean and Suez Canal to reach Europe, take about 40 days from
Busan to Rotterdam, the Netherlands. But the Arctic routes are
expected to shorten travel time to 30 days, substantially cutting
shipping costs.

Currently, the routes can only be used between July and October and
vessels need help from icebreakers, but it is expected to be
available all year round by 2030 due to the thawing of ice sheets.

Given the need for ice-breakers, the company is also looking at using
an ice-breaking class vessel, according to the source.

Since 2013, a few Korean logistics companies, including Hyundai
Glovis and CJ Korea Express, have attempted to navigate the routes
for shorter and cheaper shipments.

Hyundai''s bid comes as the Moon Jae-in administration is seeking to
intensify its cooperation with Russia in a variety of economic
projects, including a joint development of the Arctic Ocean shipping
routes.

Moon met with Russian President Vladimir Putin last month on the
sidelines of the G20 summit in Germany and agreed on this.

In addition, the development plan is likely to be accelerated next
month when the Eastern Economic Forum is held in Vladivostok on Sept.
6 and 7, which many government officials will attend it.

"To raise profitability from the Arctic routes, we will need help
from Russia, which owns the most ice-breakers in the world," an
industry official said.

"A joint development between Korea and Russia is expected to generate
big synergy."

Hyundai is said to be reviewing whether a trial operation will be
available in three to four years.