The 5th Symposium on Global Maritime Cooperation and Ocean Governance concluded in Sanya City of South China's Hainan Province on Wednesday.
The event drew more than 300 guests from over 30 countries and regions to discuss issues relating to maritime cooperation and ocean governance.
Attendees, comprising scholars and representatives of international organizations and maritime departments, tackled seven topics, including "Global Ocean Governance: Rules, Responsibilities, and Power" and "Settlement of Maritime Disputes: Dialogue or Confrontation."
As global governance currently faces new opportunities and challenges, there was a consensus among participants to favor dialogue over confrontation in resolving maritime disputes between countries over maritime delimitation and even territorial sovereignty.
"Dialogue is the way and confrontation just leads to misery. The essential thing in the ocean is that there is only one ocean. It's very important that we all get together occasionally to discuss our one ocean," said Peter Thomson, United Nations Secretary-General's Special Envoy for the Ocean.
"I think every state has its own claims and interests based on international law. I think in that sense, cooperation and dialogue and consultation are very important, but then also at the same time I think self-restraint has been emphasized as critical so that it does not escalate to a conflict," said Dita Liliansa, a research fellow at the Ocean Law and Policy Program of the Center for International Law of the National University of Singapore.
The symposium also focused on ecological conservation and sustainable development of the ocean. The attending guests looked forward to building a platform for communication and cooperation through the symposium, and providing suggestions for global ocean governance.
"We hope to gradually build consensus among all parties through this platform and pool everyone's wisdom," said Wang Sheng, president of the National Institute for South China Sea Studies (NISCSS).
"We are committed to the sustainable, high-quality and peaceful development of the ocean so as to advance the progress of the harmonious civilization, peace, cooperation and friendship in the ocean, which is the purpose and objective for us to develop this platform," said Wu Shicun, chairman of the Huayang Center for Maritime Cooperation and Ocean Governance, and also director of the Academic Committee of the NISCSS.
Multiple parallel forums and dialogues with a specific emphasis on ocean-related issues were also held throughout the two-day symposium.
5th Symposium on Global Maritime Cooperation and Ocean Governance held in Hainan
The Republic of Korea (ROK)'s consumer price inflation eased in July, breaking a multi-month accelerating trend amid stabilizing energy prices and lower farm goods prices, statistical ministry data showed Tuesday.
The consumer price index (CPI) rose 2.8 percent in July from a year earlier, falling below 3.0 percent in three months, according to the Ministry of Data and Statistics.
It marked a noticeable deceleration from 3.2 percent in June, after accelerating from 2.0 percent in February to 2.2 percent in March, 2.6 percent in April and 3.1 percent in May.
Headline inflation, however, stayed above the central bank's mid-term inflation target of 2 percent for 11 straight months since September 2025.
The Bank of Korea raised its benchmark interest rate by 25 basis points to 2.75 percent in July, turning toward monetary tightening in about three and a half years since January 2023.
Oil products price gained 15.5 percent last month, after spiking 24.7 percent in the previous month. The price lifted overall inflation by 0.60 percentage points.
Price for gasoline and diesel jumped 12.6 percent and 21.5 percent each, while computer price shot up 25.1 percent amid soaring semiconductor price. Price for industrial products, including oil products and processed food, advanced 3.7 percent in July compared to the same month last year, slower than an expansion of 4.4 percent in the previous month.
Processed food price added 1.0 percent in July from a year earlier, faster than a growth of 0.9 percent in the previous month.
Price for agricultural, livestock and fishery products climbed 0.9 percent in July from a year earlier, after picking up 3.2 percent in June.
Agricultural products price slipped 2.2 percent last month, turning downward from an increase of 1.1 percent in the prior month. Those for livestock and fishery products swelled 4.4 percent and 3.9 percent each.
Rice price mounted 7.9 percent, but those for napa cabbage, watermelon, spinach, cucumber and zucchini retreated in double figures. Those for beef, imported beef, pork, egg and mackerel increased in single digits.
Price for electricity, natural gas and tap water was up 0.4 percent in July on a yearly basis.
City gas charge and waterworks fee added in single digits, but heating cost dipped 0.2 percent.
Services price surged 2.6 percent last month, hiking up the headline inflation by 1.46 percentage points.
Public service price rose 1.4 percent, while private service price, including eating-out costs, expanded 3.5 percent.
The eating-out expense gained 2.6 percent, and the private service price excluding the dining-out cost jumped 4.1 percent.
Affected by a spike in fuel surcharges from rising oil prices, international airfares soared 21.7 percent last month.
Housing rent, including Jeonse and monthly rent, was up 1.1 percent in July from a year earlier.
Jeonse is the country's unique contract between two households where a landlord grants two-year residential rights to a tenant, who in turn lends a certain amount of money, or a deposit, to the landlord.
The livelihood items index, which gauges prices for daily necessities, climbed 2.5 percent, while the fresh food index, which measures prices for fish, shellfish, fruit and vegetables, declined 2.3 percent.
Demand-side inflationary pressure lingered. Core consumer price index, which excludes volatile agricultural and oil products, appreciated 2.5 percent last month.
The OECD-method core price, excluding volatile food and energy costs, went up 2.6 percent in the cited month.
ROK's consumer price inflation eases to 2.8 pct in July
