BUSAN < invest Korea

According to Yonhap News,

(SEJONG=Yonhap News) MOF announces its strategy for the future evolution of the Busan Port, articulating a vision of the port as a center of ICT and the IoT
A large-scale ship fixing complex, an LNG bunkering terminal, and a port hinterland to be developed additionally

The Busan Port is poised to be reborn as a cutting-edge smart port. The logistics terminals will become entirely automated, and the container processing capacity of the New Port area will be increased from the current 20 million TEU (where one TEU equals one 20 ft container) to 30 million TEU by 2030.

The Ministry of Maritime Affairs and Fisheries (MOF) unveiled its plan for the future evolution of the Busan Airport at the Busan Port Future Vision Declaration Ceremony, which was held in the New Port Hinterland on the morning of March 16.

The MOF explained, “Faced with rapid changes in the shipping and logistic environment worldwide—including the growing scales of ships, the strengthening of shipping alliances, and the increasing rigor of environmental regulations—we offer a strategy for transforming the Busan Port into an innovative and world-class hub of logistics.”

The three core tactics of the strategy that the MOF announced include (1) transforming the Busan Port into an innovative port applying smart logistics technologies, (2) transforming the New Busan Port into a major international hub of logistics, and (3) ensuring the integrated development of the Bukhang Port area to serve citizens better.

First, in order to make the Busan Port a smart and innovative port, the MOF will commission extensive research on the measures needed to develop the required digital port over the next five years starting next year.

The plan is to equip the Busan Port with a cutting-edge cargo-handling system that connects all ships, cargoes, unloading facilities, trucks, and so forth using the latest information and communication technology (ICT) and the Internet of Things (IoT).

The new terminal to be developed in 2021–2024 will be equipped with an automated system that will enhance the competitiveness of the overall port and create quality jobs.

Asked about the possible loss of jobs due to automation, the MOF answered, “We plan to achieve all of these by taking into account the retirement of existing workers and providing them with adaptive training so that automation can be realized without anyone losing their job. Starting next month, we will convene meetings of the Labor–Management–Government Council to discuss specific measures.”

In response to the emergence of self-navigating vessels, the MOF has also established a plan for developing and expanding the infrastructure around the Busan Port, while also carrying out projects to free the port of greenhouse gas emissions.

The MOF also intends to raise the competitiveness of the New Busan Port as a major hub of logistics.

The MOF will launch the development of a second new port in anticipation of the growing demand for logistics in the future. The details of the development, including its site and scale, will be included in the New Port Development Master Plan, which the MOF intends to finalize this year.

The New Port’s container pier, currently capable of 21 berths and 20 million TEU, will be expanded to handle 29 berths and 24 million TEU by 2022 and, further, to handle 40 berths and 30 million TEU by 2030.

The new pier’s depth will be at least 20 m, and the width of the berth will be 800 m in anticipation of handling super-large vessels that are 25,000 TEU in capacity. A hinterland transportation network will also be established.

The Busan Port is also to be equipped with a large-scale ship repair complex (2018–2023) and an LNG bunkering terminal (2019–2024), as well as a new hinterland (by 2030) that will be 4.27 million m2 in area.

The Busan Port Administration and the Korea Ocean Business Corporation will also provide investments so that Korean logistics companies could secure the right to terminal management. The new terminals will also be placed under integrated management so as to maximize their transshipment competitiveness.

The logistics functions of the Bukhang Port are to be merged with those of the New Port after 2030 so as to strengthen the Busan Port as an international hub of containers.

The backward Bukhang Port area will be given comprehensive development so that it could be transformed into a new place serving citizens.

The Initiative for the Integrated Development of the Bukhang Port Area, established with the participation of Busan’s citizens, will transform the Bukhang Port into a center of maritime sports, finance, and other services.

Policymakers are also considering the designation of the newly developed Bukhang Port area as a free economic zone so as to attract greater private-sector investment.

Phase 1 of the Bukhang Port Redevelopment Project, already under progress, is to progress rapidly so as to see completion by 2022.

In addition, a series of new facilities are to be developed, including a decked trail for walking between the Bukhang Port and the Busan Train Station; the Complex Transfer Center that is to connect different modes of public transit, including cruises, airplanes, and KTX trains; an opera house; and a larger and better marina.

Kim Young-choon, the minister of Maritime Affairs and Fisheries, commented, “We will give all our efforts in order to ensure that the Busan Port will become a case study of innovative growth and reach for the stars, thanks to the transformation of the New Port as a new center of logistics innovation and the Bukhang Port into a new center of maritime industries.”

yij@yna.co.kr

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Source Text

** This article was translated from the Korean.

Source: Yonhap News (Mar. 16, 2018)