TOCs to go under single operating rights by next April

Various TOCs (Terminal Operation Company) will consolidate into a single company to lease the terminal, run berths and handle stevedoring.
After being introduced in 1977, 35 TOCs have been operating conventional terminals nationwide. Some conventional terminals such as the Pusan third and fourth terminals and the central terminal have notoriously low efficiency rates as TOC shareholders divided the container yards and berths amongst themselves.
The Ministry of Maritime Affairs and Fisheries said that it will carry out the actual single TOC system plan for 12 TOCs around the end of April, 2004 when most TOC contracts are complete. The government will ask the participating companies to form a single TOC voluntarily before the contract expires. With regard to the TOCs that show poor progress in the single TOC system, the government will re-select replacements through public biddings after contacts expire. TOCs that show poor progress in the single TOC system will be disadvantaged in attending TOC bids in new terminals and will also have rent marked up.