Taiwan's Evergreen has won a contract worth 14.1 billion won (about HK$90.24 million) a year to operate three berths at Pusan's Gamman Island Container Terminal with South Korean partner Dongbu.
Two berths are deepsea container berths and one is a feedership berth.
This extension to the terminal, which will occupy 308,000 square metres, should be operational at the end of 2001 and have a potential capacity of 800,000 teus (20 ft equivalent units) a year.
The bidding for the 30-year concession marked the first time such a process had been open to foreigners. Three international companies took part - P&O Ports, Hyundai and Evergreen.
The new terminal will have two main berths and one feedership berth with a combined length of 826 metres and a 15 metre draught alongside.
The Korea Container Terminal Authority will be responsible for construction of the terminal. Five gantry cranes will be provided but, if throughput warrants, others will be added.