More private capital for port development

Domestic ports will develop with private capital. MOMAF announced August 6 that 25 berths at dome-stic ports would be built with private ca-pital this year.
The port deve-lopment includes 800 billion won in investment for Gwangyang Port 3-3 phase container wharf, 100 billion won for the Yeochon general wharf, 890 billion won for 4 berths at in the 203 phase container wharf in the Pusan New Port south side, 3 berths for 2-2 phase of the Pusan New Port south side with early construction starting for Masan Port and Pohang Port.
These ports aim to select private investors, start construction and end work by 2011 starting this year. For this, 3 districts of Gunjang Port finished inspections last year, Yanggok wharf in Pyongtaek Port while Inchon North Port 2-4 phase construction negotiations will start.
MOMAF also announced that it would conclude contracts for private investment for a general wharf in Inchon North Port and a multipurpose wharf in Pyongtaek Port this year.
An insider from MOMAF said, "We will develop domestic ports with private capital to overcome government capital shortages and build port facilities in a timely manner."