BUSAN < invest Korea

(SEOUL=Yonhap News) The Ministry of Oceans and Fisheries announced January 3 that it will be designating Busan Port's Uam Pier (175,931m²) and Gwangyang Port's Jungma Pier (287,883m²) as marine industry clusters on January 4.

The marine industry cluster system was introduced in order to attract new and advanced marine industries to unused port facilities, and thereby create new added value.

Upon official designation, the projects to transform Busan's Uam Pier and Gwangyang's Jungma Pier into marine industry clusters will be able to begin on a full scale.

The port authorities of Busan and Yeosu-Gwangyang plan to complete the basic and implementation designs for the development projects within this year, and finish uninstalling infrastructure by 2019.

The Ministry of Oceans and Fisheries, Busan Metropolitan City and North Jeolla Province (Gwangyang City) will provide partial funding for uninstalling the infrastructure , as well as other forms of support to facilitate the smooth operation of the projects.

In particular, Busan Port plans to attract companies related to marine leisure equipment and shipbuilding and offshore plant makers, while Gwangyang Port seeks to attract marine logistics research and development companies to the new marine industry clusters.

joon@yna.co.kr

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Source: Yonhap News (Jan. 3, 2018)