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S. Korea's seaport cargo down 2.3 pct in 2022 on global economic slowdown

11:00 January 26, 2023

SEOUL, Jan. 26 (Yonhap) -- Cargo processed at South Korean seaports fell 2.3 percent on-year in 2022 over the war between Russia and Ukraine, China's lockdown of major cities over the COVID-19 pandemic and a global economic downturn, the oceans ministry said Thursday.

Cargo handled at the country's ports nationwide came to 1.55 billion tons in 2022, compared with 1.58 billion tons a year earlier, according to the Ministry of Oceans and Fisheries.

Of them, export-import cargo came to 1.31 billion tons, down 3.5 percent on-year, it added.

Container cargo processed at the seaports declined 4.1 percent on-year to come to 28.81 million twenty-foot equivalent units (TEUs) in 2022. Of them, processed export-import container cargo fell 4.3 percent to 16.44 million TEUs.

By nation, trade volume with Russia tumbled 25.3 percent last year, and those with China and Japan fell 3.7 percent and 3 percent, respectively, the data showed.

South Korea's handling of transshipment cargo, or cargo processed here en route to final destinations, also went down 4.2 percent on-year to 12.15 million TEUs.

Non-container cargo handled at the ports inched down 0.8 percent from the previous year to 1.04 billion tons in 2022, the ministry said.

By item, the volume of oil grew 0.7 percent to 467.28 million tons, while that of iron ore and coal fell 9.2 percent and 3.2 percent, respectively. Vehicle shipments advanced 4.6 percent on-year on smooth supplies of automotive chips.

"The Ukraine crisis and China's lockdown of major cities over the COVID-19 pandemic affected the cargo volume," a ministry official said. "Global uncertainties stemming from monetary tightening also hurt shipments."

This file photo taken Jan. 10, 2023, shows a pier in the southeastern port city of Busan packed with containers set to be transported. (Yonhap)



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