According to Yonhap News,
(SEOUL=Yonhap News) Ministry of Oceans and Fisheries (MOF) announced on February 10 that it will open third party competition for development of step-2, type-1 hinterland complex in Busan New Port Ungdong area by May 13.
A specific area will be type-1 hinterland complex (850,000㎡) of step-2 hinterland complex of Busan New Port Uungdong area (1.12 million ㎡), with main facilities to be complex logistics & manufacturing, and other business amenities, etc.
A developer will be given discretion regarding planning of development, management, and operation of type-1 hinterland complex.
A sole corporate, capable of carrying out a project or a consortium consists of two or more corporates is eligible.
MOF will select a preferred bidder in July after reviewing business plans.
The step-2, type-1 hinterland complex in Busan New Port Ungdong area will begin construction in the first half of next year and completed in 2022. This project is planned to be carried out with KRW 200 billion of private capital.
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** This article was translated from Korean.
Source: Yonhap News (February 10, 2019)