THE South Korean Government plans to attract 583.5 billion won (about HK$5.66 billion) in private capital this year for expansion projects at 11 major ports across the country, according to sources at the Korea Maritime and Port Administration.
The plan calls for inducement of 277.9 billion won in private capital to build 39 more berths at 11 major ports including Pusan, Inchon, Masan, Ulsan, Tonghae, Kwangyang and Pohang.
Under the plan, 305.6 billion won in private capital will also be poured into 11 projects, including construction of consolidated passenger terminals, outdoor depots and stevedoring facilities.
In June, the administration issued a public notice to invite participation of private enterprises in the port expansion projects, and 46 corporations have applied for 17 projects at seven ports - not including Pusan, Kunsan, Changhang and Mokpo - with proposed investments of 232.1 billion won.
The administration will select other private corporations intending to take part in five projects at the remaining four ports at the earliest possible date to finalise the selection of all successful applicants before the end of the year.
Among the private corporations that have already filed applications for the projects are Ssangyong Cement, Tong Yang Cement, Halla Cement, Hyundai Wood Industries, Korea Express and Pohang Iron and Steel Co.
