MOCT budget increases

MOCT (Ministry of Construction and Transportation) estimates there will be budget expansions for the logistic department this year. MOCT is the 3rd in line government organization for budgets following MOE (Ministry of Education & Human Resources Development) and MND (Ministry of National Defense). The new budget is estimated at 16 trillion and 88.8 billions won, 31.7% more than last year.
Specially, MOCT increased budgets for national infrastructure for the second step construction and CFZ (Customs Free Zone) at Inchon International Airport. It plans to increase the budget from 45% to 50% for Inchon International Airport second step construction and will increase from 50% to 70% for CFZ at Inchon International Airport.
Meanwhile, MOCT announced that it would expand SOC (Social Overhead Capital) to realize Korea as a major northeast Asia logistics center.