Panamanian Ambassador to South Korea Aram Cisneros highlighted his nation’s iconic canal by organizing a special seminar ahead of a reception in Seoul on Thursday celebrating 110 years of national independence.

The country declared its independence from Colombia on Nov. 3, 1903.

Ties with Panama are important for South Korea, whose economy is highly export-led, because it has one of the world’s largest merchant marine fleets.

Some 1,000 vessels of the total 9,000 registered in Panama are South Korean. SK Shipping, Hyundai Merchant Marine and Hanjin Shipping are three of the country’s largest transporters of goods.

“Our embassy was very honored to have representatives of the ministries of Oceans and Fisheries, the Ministry of Foreign Affairs, shipping owners, ship financing banks, shipping law firms, ambassadors and friends at the Westin Chosun event,” Cisneros said. “It was truly satisfying to enjoy the 110th anniversary of Panama’s independence with them all.”

Because South Korea is equipped with world-class shipbuilding, shipping capacity, distant water fisheries and port infrastructures, the canal is of strategic importance, according to Chung Bok-chul, director general of the Bureau of Overseas Fisheries and International Policy at the Ministry of Oceans and Fisheries. South Korea ranks among the top five users of the Panama Canal.

The Ministry of Oceans and Fisheries coordinates policy and regulations over all marine-related fields, such as shipping, maritime safety, shipping logistics, port construction and operation, and marine environment and fisheries.

Diplomatic relations were established in September 1962. Bilateral ties hit a high point in 2010, when then-President Lee Myung-bak met his Panamanian counterpart Ricardo Martinelli on a state visit to the Central American country in June. The two leaders met again when Martinelli came to South Korea in the latter half of that year.

By Philip Iglauer (ephilip2011@heraldcorp.com)