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South Korea Seaport Cargo Up 1.5% in Q1 Despite Trade Uncertainties

South Korea's seaport cargo grew 1.5% year-on-year in the first quarter of 2026, reaching 388.45 million tons despite global trade uncertainties. Container cargo declined 1.2% to 7.87 million TEUs, with US shipments dropping 10.2% and Vietnam down 6.98%. However, trade with China and Japan increased by 2.4% and 9.5% respectively. Oceans Minister Hwan Jong-woo noted that the Middle East conflict had limited impact on port volumes during the quarter.

Key Points: S. Korea Seaport Cargo Up 1.5% in Q1 2026

  • Total cargo up 1.5% to 388.45M tons
  • Container cargo down 1.2% to 7.87M TEUs
  • US shipments fell 10.2%, China up 2.4%
  • Busan port down 2%, Gwangyang up 5.2%
2 min read

S. Korea's seaport cargo up 1.5 pc in Q1 despite trade uncertainties

South Korea's seaport cargo grew 1.5% in Q1 to 388.45M tons, despite Middle East conflict. Container cargo fell 1.2%, while US shipments dropped 10.2%.

"Despite lingering uncertainties caused by the conflict in the Middle East, the impact of the blockade of the Strait of Hormuz appears to have had limited impact on port cargo volumes in the first quarter - Oceans Minister Hwan Jong-woo"

Seoul, April 29

Cargo processed at South Korean seaports grew 1.5 per cent from a year earlier in the first quarter, showing limited impact from the Middle Eastern conflict, the oceans ministry said on Wednesday.

Cargo handled at the country's seaports nationwide came to 388.45 million tons during the January-March period, up from 382.89 million tons tallied the same period last year, according to the Ministry of Oceans and Fisheries.

Of them, export-import cargo totaled 327.48 million tons, also up 1.5 percent on-year, the ministry said, reports Yonhap news agency.

Container cargo processed at seaports, however, went down 1.2 percent on-year to 7.87 million twenty-foot equivalent units (TEUs) in the first quarter. Of these, 4.21 million TEUs were export-import cargo, down 1.9 percent from the previous year.

Shipments to and from the United States fell 10.2 percent, while those for Vietnam dropped 6.98 percent. Shipments to and from China and Japan, on the other hand, rose 2.4 percent and 9.5 percent, respectively.

The volume of transshipment cargo, or cargo processed here en route to final destinations elsewhere, went down 0.7 percent to 3.6 million TEUs, according to the ministry.

By port, Busan processed 6.14 million TEUs of cargo in the first three months of this year, down 2 percent on-year, the latest numbers showed. This decline is attributed to the normalization of shipments following the sudden surge in the first quarter of 2026 triggered by U.S. tariff policies.

The port of Incheon handled 810,000 TEUs, up 1.1 percent on-year, while the volume of cargo processed at Gwangyang went up 5.2 percent to 494,000 TEUs.

Non-container cargo handled at seaports nationwide gained 1.7 percent on-year to 249.63 million tons in the first quarter.

"Despite lingering uncertainties caused by the conflict in the Middle East, the impact of the blockade of the Strait of Hormuz appears to have had limited impact on port cargo volumes in the first quarter," Oceans Minister Hwan Jong-woo said, vowing continued efforts for smooth operation of the shipping sector.

- IANS

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Reader Comments

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Pooja D
The rise in China and Japan trade makes sense - they're closer and more stable trade partners for Korea. Meanwhile, Vietnam's drop might be due to similar products being sourced elsewhere. India's ports like Mundra and JNPT should take lessons from Busan's efficiency.
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Vikram M
The minister's statement about Hormuz blockade having limited impact is slightly misleading in my opinion. The 1.5% overall growth is barely significant, and container cargo actually fell. Global trade isn't as robust as governments want us to believe. We need realism.
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Arjun K
As someone working in logistics, I can say this is impressive resilience from Korean ports. While India's overall trade grew 6% last fiscal, our port infrastructure still lags behind in automation and turnaround time. We should collaborate more with Busan for tech transfer 🚢
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Neha E
The data shows Korea is still heavily dependent on China and Japan for exports/imports. What happens if those relationships sour? India and Korea have a Comprehensive Economic Partnership Agreement - we should push for more cargo through Indian ports to reduce their China dependency.
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Swati Y
That normalization effect from US tariff policies is interesting - shows how global trade is so reactive to politics. India should focus on increasing our own port capacity and reducing logistics costs. Our EXIM trade could benefit from such stability 📦
M

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