This paper focuses on the impact of the Biden administration's foreign economic policy and the correlative strategic alliance system on shipping cooperation between Korea and China. The shipping industry takes an important role in maritime initiative ...
This paper focuses on the impact of the Biden administration's foreign economic policy and the correlative strategic alliance system on shipping cooperation between Korea and China. The shipping industry takes an important role in maritime initiative and supply chains.
This paper explains the Biden government's foreign economic policy on supply chains and its policy of suppressing the global shipping industry. It also explains the strategic alliance system of correlation policy. The U.S. government issues legislation strengthening supply chain of domestic high-technologies and gives an order to suppress the global shipping industry. In order to strengthen maritime cooperation, the U.S. established the AUKUS, "Partners in Blue Pacific" (PBP) and "India-Pacific Partnership for Sea Area Identification" (IPMDA) under quad systems.
This paper compares the Korean-Chinese shipping industry in the background of the leadership of the shipping industry. It mainly compares the size of shipping companies, the shipping federation of shipping companies, trade ports, shipping industry governance, and maritime transportation routes. China's competitiveness in the shipping industry is stronger than that of Korea. China and Korea have common route in maritime transportation.
This paper then analyzes Korea-China shipping cooperation in three aspects: the shipping cooperation system between Korea and China, route cooperation, and the impact of the Biden government's foreign economic policy and alliance system on Korea-China shipping cooperation. Korea and China are treating each other as the most favored nation in shipping. The two countries also strengthen cooperation in ferry shipping. Korea-China ferry cooperation is considered the biggest feature of Korea-China shipping cooperation. A total of 16 routes are established, including 13 trade ports in China and 3 trade ports in Korea. Private cooperation is operating well. In addition, the trading ports of the two countries belong to the global container shipping network. The U.S. Biden administration's semiconductor supply chain control policy does not have a significant impact on Korea's shipping economy to China. This is because the main means of transportation of memory semiconductors is air transportation. IPMDA is likely to collect cooperative data on Southeast Asian and Pacific routes of Korean and Chinese shipping companies. In the future, there is a possibility that the U.S. government will directly strengthen cooperative relations with Korean shipping companies.