News
South Korea's Ministry of Land, Transport and Maritime Affairs （MLTM） recently has announced policies to solidify Busan Port's status as the world's second largest container transhipment hub.
The competitiveness policies includes; 1） facilitating transshipment process at Busan New Port by adding new piers including a dedicated facility for feeder vessels; 2） expanding volume incentives for carriers; 3） increasing the level of support for the costs for shuttle transport between North Port and New Port; 4） attracting global logistics companies to the logistics park behind Busan Harbor; and 5） dredging the water channel to as deep as 17 meters by 2015 for larger super-large vessels.
The ministry aims to achieve transshipment volume at Busan of 100 million TEUs by 2015 and 13 million TEUs by 2020.
