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Ulsan to Establish Ulsan Port Development Plan

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan City announced on August 23 that it is undertaking a demand survey on Ulsan Port Development Plan with the aim of creating Northeast Asia Oil Hub and revitalizing the key industries of the country.

Based on the establishment of the Fourth Port Basic Plan (2021-2030) by the Ministry of Oceans and Fisheries, the City started to collect opinions from bureaus, departments, and 5 towns and counties.

The Port Basic Plan is a ten-year plan with top priorities established by the government, and it includes port development strategies, policy direction by individual port, and port operation plans.

After notification of the Third Port Basic Plan in 2011, the City set a goal of establishing Ulsan Port development plan in order to reflect additional demand due to the rapid economic growth and change of cargo volume, and to enhance related facilities.

In particular, the City will also include in the Fourth Port Basic Plan the creation of Northeast Asia Oil Hub by dominating commercial oil storage facilities in Northeast Asia and revitalization of key industries such as petrochemicals, shipbuilding and automobile.

Additionally, it will make a proposal to the Ministry on developing Ulsan Port as the base port for the North Pole route in order to occupy the Northern economy after reconciliation and cooperation of the two Koreas. The proposal also includes the establishment of LNG bunkering infrastructure, expansion of berth facilities for Ulsan Cruise, construction of the back road of the Ulsan Port, and the establishment of harbor waterfront facilities by transferring the coal terminal.

"Until the first half of 2020, when the service of establishing the Fourth Port Basic Plan is complete, we will continue to make consultations with the Ministry of Oceans and Fisheries and the Ulsan Port Authority to raise the Port up to the central port of the Northern Economic Cooperation," said a city official.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (August 23, 2018)