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How Korea can better manage maritime piracy and terror

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  • How Korea can better manage maritime piracy and terror
  • Coggins, Bridget L.; Kim, J. James
  • The Asan Institute for Policy Studies


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Title How Korea can better manage maritime piracy and terror
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Material Type Articles
Author(English)

Coggins, Bridget L.; Kim, J. James

Publisher

Seoul:The Asan Institute for Policy Studies

Date 2014-03
Series Title; No Issue Brief / 2014-09
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < National security
Government and Law < International Politics
Holding The Asan Institute for Policy Studies

Abstract

Because global commerce and the smooth functioning of international affairs depend on the free movement of goods and people at sea, maritime piracy has generated substantial concern. Though the number of reported piracy incidents worldwide fell for the second consecutive year in 2013, ongoing anti-piracy operations are costly; pirate attacks have become more frequent and violent in some regions; and it is unclear that the recent reduction in piracy is sustainable. Additionally, with approximately 90% of the world’s goods traveling by sea, skyrocketing insurance and transportation costs, and a shipping industry already struggling with the global economic downturn, piracy’s adverse financial consequences may be even greater than its security effects. Combating piracy is especially important for South Korea because its sizable maritime fleet must regularly traverse two to three pirate hot spots, even for essential energy resources like oil and liquid natural gas.1 If Korea’s central role in the global shipping industry is considered, the problem is even more pressing. (The rest omitted)