South Korean shipowners have branded Lee Myung-bak's flagship cross-country canal project a waste of time.
The waterway network, which would link Seoul with Busan, is a key campaign pledge of the President-elect, but over 75% of the nation’s owners believe the project is unnecessary.
A survey of 70 bulker owners, conducted by a Korean newspaper, revealed over 50% of shipowners have no intention of using the canal as it offers no competitive advantages.
“We
