News
South Korea's Ministry of Land, Transport and Maritime Affairs recently has announced the third round of the National Port Master Plan （2011 to 2020）.
According to the plan, the port of Busan will be focused as a container transhipment hub while Kwangyang is expected to support a national industrial complex logistics hub. Ulsan will be developed into an oil hub as well as a high value-added logistics center.
As for container shipping, a total of 40 berths will be built in Busan New Port （currently 17 berths） for transhipment operations of cargo to and from Northeast Asian nations like Japan and China, to boost its position to the world's second busiest transhipment port.
All in all, the plan envisages building 232 berths for cargoes and 56 berths for passengers to enhance capacities by 53 percent. In order to boost added value the port creates, a total of 41 trillion won will be spent by 2020 for the expansion of the port infrastructure, 18 trillion of which will contributed by the government.
