As the incoming administration is busy making preparations to build a cross-country waterway linking Seoul and Busan, a recent survey showed that a majority of local shipping firms do not think the project will facilitate their logistics operations.

The survey was conducted by The Hankyoreh via telephone from January 10 to 11 with the directors of logistics from a total of 72 bulk shipping companies. Sixty companies responded to the poll on condition of anonymity, while 12 firms declined to participate or were not reached for the survey.

When asked whether they think the cross-country waterway project is necessary from their perspective as shipping operators, 46 out of 60 companies, or 76.6 percent of the total, answered “No.” Only 14 companies, or 23.3 percent, responded affirmatively. Of those, 34 executives, or 56.6 percent, said they did not plan to use the waterways even if construction were to be completed, while 22 executives, or 36.6 percent, remained reserved, saying that they would make a decision after considering their total logistical costs.

Among the 14 companies which expressed a willingness to use the waterways, five cited the prospective convenience of shipping goods in large quantities, while another five pointed to lower logistical costs. Meanwhile, most of the 46 shippers who responded they would not use the Seoul-Busan waterways cited longer shipping time and inconvenience of loading goods as reasons. “We are not going to use the waterways, which are not likely to offer any benefits in terms of economics and efficiency,” one executive said.

When asked which form of transportation is most efficient, 33 out of 56 shipping firms cited roads. Railways came next as the choice of 11 companies, followed by maritime routes, with six companies saying that this was the most efficient method of transporting goods. Of the 49 companies surveyed, 26 said that new highways could be an alternative to the envisioned waterways. Seventeen companies called for the construction of more railways, while five demanded that more sea routes be opened, instead of building the waterways.

The canal, one of President-elect Lee Myung-bak’s key campaign pledges, would connect Seoul to Busan via a series of interconnected waterways. Lee’s transition team has already begun to push ahead with the project, and has pursued financing from oil-rich executives in Dubai and other Middle Eastern countries. Environmental groups, however, have launched opposition to the project, saying it will force several species into extinction. The transition team plans to hold a public hearing on the issue shortly after the president-elect is inaugurated.

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