Korea's Maritime Shipping Costs Are Lower Than Japan’s — Here’s the Data
According to the Korea Shipowners’ Association, Korea’s maritime freight costs are actually lower than Japan’s, contrary to recent claims. The study was initiated in response to concerns that soaring freight rates after the COVID-19 pandemic weakened Korea’s export competitiveness.
To ensure accuracy, the Association revised outdated statistical methodologies and re-estimated the national ocean freight expenditure. As a result, in 2020, Korea’s maritime freight cost accounted for only 3.6% of its total logistics cost and 0.5% of GDP, disproving the notion that freight price increases alone threatened national competitiveness.
When comparing cost per ton, Korea's rate stood at 11,861 KRW, while Japan’s reached 20,655 KRW — a difference of 8,794 KRW per ton. The Korea Shipowners’ Association explained this gap by noting Korea handles more raw materials, while Japan focuses on processed goods such as cars and steel.
In regional TEU cost comparisons, Korea maintained lower shipping rates in almost every major trade route. For example, shipping to Africa cost 1,277 dollars from Korea versus 1,710 dollars from Japan. Similar trends were observed for Europe and the Americas.
The Association emphasized that Korean shipping companies provide globally competitive freight rates, and that this research can help reshape discussions on export competitiveness.
👉 This study underscores the value of data-driven policy and reveals that Korean shipping companies maintain cost advantages over Japanese counterparts. It challenges earlier assumptions with clear economic metrics.
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