South Korea's import shipping costs from Europe increased 32.8% in April due to geopolitical tensions.
South Korea's shipping costs for imports from Europe increased by 32.8% in April, marking a third consecutive month of double-digit growth. The surge is due to geopolitical tensions around the Red Sea, leading to the suspension of transit through the Middle East maritime route. While South Korea's export shipping costs to the EU decreased 6.9% in April compared to the previous month, they increased by 42.6% compared to the same period last year.
May 16, 2024
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