The Secretariat of the International Seabed Authority (ISA) held the seventh annual meeting of exploration contractors from September 30 to October 2, 2024, under the theme “Fostering dialogue and collective actions for effective regulatory compliance of activities carried out in the Area”. The meeting, held in Busan, Republic of Korea, was jointly hosted by the ISA Secretariat and the Government of the Republic of Korea through the Korea Institute of Ocean Science and Technology (KIOST).

The ISA Secretariat has been holding annual meetings with contractors since 2017. Previous meetings were held in Jamaica (2017), Poland (2018), China (2019), a virtual format (2021), The Netherlands (2022) and Tanzania (2023). This year’s meeting was attended by 51 individuals representing 21 different contractors. The theme of this year’s meeting was “Fostering dialogue and collective actions for effective regulatory compliance of activities carried out in the Area”. Key topics included progress in the development of the exploitation regulations for seabed minerals in the Area, compliance and regulatory management, and updates on the Contractors’ Training Program. The meeting was also the opportunity to discuss environmental management and monitoring initiatives, the respective strategies of contractors for transitioning from exploration to exploitation as per the terms of their contractors, and potential collaboration with the Enterprise, whose Interim Director General, Mr. Eden Charles, participated for the first time.

In his opening remarks, H.E. Mr. Michael W. Lodge, ISA Secretary-General, emphasized the importance of the annual meeting in ensuring ongoing discussion between contractors and ISA. “One of my first actions when I took office as Secretary-General in 2017 was to launch this annual consultation between the Secretariat and contractors. I felt that it was important to provide a neutral space for contractors to discuss technical matters relating to the implementation and management of contracts, as well as to discuss common challenges and identify possible areas for collaboration.”

“It is a great satisfaction to me, therefore, to see that the annual consultation has now reached its seventh edition. I am also happy to see that the meeting has continued to rotate around different countries and regions, which also provides an excellent opportunity for contractors and hosting sponsoring States to share experiences and showcase their achievements,” he added.

Welcoming participants, Dr. Hyi-Seung Lee, President of KIOST, highlighted the role of international cooperation among contractors and ISA in order to implement the provisions of the United Nations Convention on the Law of the Sea and the 1994 Agreement effectively. “This year’s meeting, under the theme ‘Fostering dialogue and collective actions for effective regulatory compliance of activities carried out in the Area,’ touches upon one of the most critical challenges of our time—the sustainable development of marine resources. Achieving this goal requires international cooperation and the effective implementation of regulations,” noted Dr. Lee.

“The regulatory frameworks and environmental monitoring initiatives led by ISA play a crucial role in protecting marine ecosystems and ensuring the long-term sustainability of our shared resources,” Dr. Lee added.

During the high-level segment, the Honorable Dr. Do-Hyung Kang, Minister for Oceans and Fisheries of the Republic of Korea, emphasized the importance of balancing resource development with environmental protection. “I once participated in biological research in the exploration area of manganese nodules when I worked at KIOST as a researcher. After participating in the actual exploration, I was able to solidify my idea that the deep seabed is not only a common heritage of humankind but also the last frontier of our planet Earth.”