Port development high on South Korean agenda
DEVELOPMENT of the northern port in Inchon and four other ports will go into full swing in 1996 on a priority basis, sources at the Korea Maritime and Port Administration (KMPA) said.
The other four are a new port at Kadok Island near Pusan, a new port in Ulsan, a new outer port for the Mokpo harbour and a new port in Pohang on the east coast, the sources said.
These five ports are part of seven ports originally selected for development to meet the rising demand in the next century.
On the other hand, development of the two other ports - a new port in Seamankum - will be put off, because of short demand and overlapping investments in nearby ports, the sources said.
Based on eight-month survey results of the Korea Maritime Institute, a final evaluation on the project priority will be made by the end of February 1996.
The survey results pointed out that the top priority should be placed on development of Inchon's northern port in view of the worsening cargo handling situation at the Inchon harbor.
Under the KMPA's long-term plan, Inchon's northern port will have five new berths capable of stevedoring three million tonnes of cargo by 2000 at a total cost of 261.8 billion won (about HK$2.6 billion).
The plan calls for urgent investments in a new port on Kadok Island near Pusan. This new container port will be built by 2011 at a cost of 2.3 trillion won, to have 53 berths capable of stevedoring 69 million tonnes of cargo.
Next priority was given to a new port in Ulsan, which will be erected by 2011 at a cost of 1.46 trillion won, to have 20 berths capable of stevedoring nine million tonnes of cargo.