Development of Shanghai Port threatens Pusan

Recently an insider from the KMI (Korea Maritime Institute) announced in a column that the Shanghai Port threatens Pusan Port? position.
According to the column, Yangsan Port has gone on so well since June of last year that the port will be operated as the first free port in China. The port will compete with Pusan Port for transshipment cargoes.
Shanghai Port is building Yangsan Port, the largest container port in the world, on the southeastern sea in order to improve handling capacity and topographical problems.
At the same time Shanghai Port is promoting 'port city' construction with large logistic centers keeping ultramodern facilities on its coast with about 50 container berths.
The column stated that Shanghai Port will handle about 30 million TEU by 2011, equivalent to the entire container handling volume in Korea.
Additionally, the Shanghai Port could further threaten Korean ports by luring away transshipment and high value-added cargoes.
The columnist also foresees that Shanghai Port will be busy handling its soaring import and export cargoes even though the first stage of Yangsan Port is complete.
The KMI columnist advised that Korean ports prepare by planning for and attracting transshipment cargoes before Yangsan Port really takes off.
If Yangsan Port is operated as a free port, Shanghai Port will be in a better position than ever to attract multinational companies with its existing area of 2.4 million pyong (roughly 3.3 square meters), said the column.
Compared to Shanghai Port, Pusan Port has a mere 40 thousand pyong of hinterland and the New Pusan Port has only 93 thousand pyong.