South Korean operator Seaworld Express Ferry will withdraw the catamaran Santa Monica from the Jeju–Chuja–Jindo route after December 31, 2026, ending Chuja residents’ same-day return trips to Jeju.
The company sent Jeju Province its final written notice on November 5, saying it was seeking to sell the vessel.
The province had offered to keep making annual payments to compensate for losses from the Chuja call, while also considering coverage of repair costs arising during operations.
"Even if we extended it, we would have to stop soon. After considering the practical benefit, we made the final decision to operate only until the end of the year, as originally planned," a company representative told Maeil Business Newspaper.
A provincial official said current law does not allow the government to impose an operating order unless a route is completely cut off. The province plans to commission a study of publicly operated passenger ferries and other responses to the withdrawal.
Seaworld cited KRW6.5 billion ($4.86 million) in accumulated losses from 2022 to 2025. The province provided KRW1.95 billion in operating-deficit support for Santa Monica in 2026.
The 75.5-metre Incat-built catamaran was completed in 2022 and can carry 606 passengers and 86 cars.