Incheon Port rises as pivotal trade, tourism hub
Ports have long come hand-in-hand with every nation's growth. For Incheon Port, this means helping unlock South Korea's economic potential - and transforming what used to be a country with scarce natural resources into one of the world's wealthiest.
Ports have long come hand-in-hand with every nation's growth. For Incheon Port, this means helping unlock South Korea's economic potential - and transforming what used to be a country with scarce natural resources into one of the world's wealthiest.
Home to a fishing village of fewer than 5,000 inhabitants before it opened its port in 1883, Incheon - then called Jemulpo - quickly rose as a pivotal industrialisation and modernisation hub.
"Strategically located in the heart of the Korean Peninsula, Incheon Port is the gateway to the national capital of South Korea, including Seoul Metropolitan City, which has the biggest purchasing power in the country," says Yoo Chang-keun, president of Incheon Port Authority (IPA). "Today, Incheon Port is set to play another pivotal role as the country's closest link to another economic giant, the world's biggest factory and market in one - China."
Established in 2005 to develop port facilities and the hinterland and to enhance the expertise, efficiency in management and operation of these, IPA offers cargo and passenger services to shipping companies, shippers, forwarders and tourist agencies. It has developed the port into one of the country's most competitive logistics centres, partnering with and supporting businesses and other port stakeholders.
Incheon Port has since grown to serve about 27 shipping companies and 83 vessels that make more than 40 calls per week. These include container ships coming from China, Russia, Africa, Japan and other Southeast Asian countries, and international ferry services.
The port takes pride in operating Asia's biggest lock gate, which provides stable cargo handling services regardless of the weather and season. It also runs exclusive container terminals, specialised industrial ports handling bulk and cargo carriers, a coastal passenger terminal and two international passenger terminals.
Last year, the port handled 2.3 million 20-foot equivalent containers and nearly 140 million tonnes of general cargo. It also welcomed 95 cruise ships and more than 1.5 million Chinese tourists, serving 10 out of 15 cruise lines plying between South Korea and China.
Incheon Port serves seven key Chinese destinations - Weihai, Tianjin, Qingdao, Dalian, Dandong, Shanghai and Yantai. It also connects major Southeast Asian destinations, such as Singapore, Taiwan, Hong Kong, Vietnam and the Philippines, with 17 container services and 50 vessels. Aiming to attract additional investments, IPA is set to open more overseas branches in key locations.
"IPA targets to surpass the port's milestones by further enhancing the facilities, operations and financial structure, while maximising customer value and promoting sustainable development," Yoo says.
Leading these developments are three major projects: the construction of a new international passenger terminal; the expansion of the sea route depth of the Incheon New Port slated for completion by 2020; and the improvement of the port's hinterland sites to increase competitiveness, including the creation of a specialised logistics complex.
On completion of the projects' initial phase in two to three years, Incheon Port is envisioned to handle container ships carrying more than 150,000 tonnes - benefitting cargo owners and ship operators with improved cost competitiveness. Leveraging the country's cutting-edge information technology infrastructure, the "smart port" is set to use advanced tracking and monitoring technologies, including radio frequency identification and automated stevedoring.
These, among other infrastructure developments, are poised to complement Incheon Port's geo-economical competitiveness, enabling investors and enterprises to successfully start up or expand their businesses in the region.
"We are committed to our local communities as we are to our global stakeholders - from ship operators looking to optimise their business to international tourists seeking a slice of our culture," Yoo says.
"We also envision South Korea increasing trade and potentially unifying with North Korea - making Incheon Port a pivotal logistics hub in the Pan Yellow Sea Region and a marine tourism mecca of northeast Asia."
http://www.icpa.or.kr