MOMAF plans for PA ontrack

The main domestic ports will operate under the PA (Port Authority) from this year, while minor ports with less cargoes will operated under local governments.

MOMAF revealed a strategy to become a hub for North East Asia to President Roh Moo Hyun in a business plan report for this year on March 9.

MOMAF will improve the Port Authority law to place management of hinter-lands, cargo transportation, and support of marine transportation in the PA's charge. The Incheon Port Authority will be established by the end of July. PA establishment schedules for Ulsan and Gwangyang ports will be fixed after it research on the financial condition of each local government.

MOMAF also announced that it will accelerate growth for Pusan and Gwangyang Ports. It will complete 3 berths in the first step of Pusan New Port and move for Gamcheon multinational corporations to lead high value-added businesses in this year. Gwangyang Port will develop 5 new berths and start building hinter-land roads on the west side as well as railways.

Meanwhile, MOMAF will implement a tonnage tax like advanced countries to help become the 5th largest shipping country in the world by 2011.