[ The MMAF Set to Undertake Port Privatization in 1997 ]

This year will see the advent of private operations at the domestic
major ports, sources at the Ministry of Maritime Affairs and
Fisheries said.
They said the government will set aside a total of four billion won
(US$4.8 million) every year which will be used to compensate workers
dismissed under the privatization plan.
Of the 27 ports, 19 have been selected for privatization, beginning
with Pusan and Inchon in the first half of the year, the sources
reported.
Names of the companies designated to operate the ports of Ulsan,
Pohang, Masan and Kunsan will be announced in the second half, they
said. Privatization programs for the remaining 13 ports will be
announced later, the sources said.