South Korean Ports Vie For Northeast Asian Shipping Market

In an effort to capture a larger share of the Northeast Asian shipping capacity, two new ports in Busan and Gwangyang will open in Jan. 2006. The ports have a berthing capacity of three 30,000-ton vessels. The South Korean Ministry of Maritime Affairs and Fisheries is positioning these ports as able competitors to Shanghai's new container port, The Yangshan Deep Water Port, which opened on Dec. 10.

The South Korean government will actively promote these two ports, according to a report on Korea.net, through an economic package that includes establishing an institutional foundation for the shipping industry, an expanded port logistics infrastructure and cooperation with neighboring countries.

Other plans for these ports include the introduction of RFID technology via state-of-the-art information technology.


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