S.K. Lines advancing 7.6%, and Nippon Yusen K.K. climbing 3.6% in Tokyo, while Hanjin Shipping Holdings added 2.1% in Seoul.

WSJ: Weaker Yen Lifts Tokyo Exporters

The biggest of the South Korean shipping companies, such as Hyundai and Hanjin, both part of diversified chaebol, also face a credit crunch.

ECONOMIST: Shipping

To ease the strain, Hanjin (owned by the same group that is struggling to manage Korean Air) has sold much of its fleet and leased it back.

ECONOMIST: Shipping

And while Seoul is relatively easily navigable for non-Korean speakers, the nation still has poor tourism infrastructure, notes Kim Soo-yong, a manager handling inbound sales at Seoul-based Hanjin Travel.

WSJ: Seoul Bets on Chinese Tourists for Lunar New Year