[ Expansion of Cargo Handling Capacity in Busan Port Expected.]

In order to handle increasing container cargo more efficiently, the pro-
ject for improving port facilities is vigourously proceeded.
According to the Korea Maritime and Port Administration(KMPA),they have
emphasized that some intermediate measures should be urgently set up
to cope with the ever increasing container cargo traffic even before
the completion of the 4th phase container berth development plan in port
of Busan and of the 1st stage port development project in port of Kwang-
yang.
As a matter of fact, Korean container cargo volume reached 3,060,000T
EUs last year but the actual port’s handling capacity could not catch
up these figures with 840,000 TEUs port handling capacity more required.
At the same time, the thing is that in the coming 1997, the total
container cargo volume will be increased up to 4,130,000 TEUs and if the
present situation is not improved at all ,then around 1,910,000 TEUs hand-
ling capacity will have to be increased to accomodate this volume.
Accordingly, KMPA intend to expand port handling capacity by 300,000TE
Us through improving the facility of Jasungdae berth along with the
automation of the relevant equipments which will require the 38.7 billion
won’s investment. At the same time, they will pour around 8.3 billion
won into increasing the efficiency of the currently expanded 7th
berth which will be thereby used for handling middle and small container
cargoes as well. Simultaneously, the Korea Container Terminal Authority
will invest around 37.2 billion won in order to construct one more berth
in the 3rd berth of Shinsundae terminal in the year of 1997 whilst they
will spend another 9 billion won to build 510 meters long new load linking
Jasungdae and 7th berth with a view to more efficient use of the port
facilities.
Under the circumstances, KMPA will invite the private companies’ invest-
ment to cover the required 5.2 billion won for the 7th berth and the
government will pay 9 billion won for the construction of the new road
between Jasungdae and 7th berth whereas all other expenses will be borne
by the Korea Container Terminal Authority.
At the same time, KMPA is also preparing the plan to increase the con-
tainer cargo handling capacity from the present 2.2 mill TEUs upto 3.2
mill TEUs through efficient operation of the current container facility
and conventional general cargo berth in the port of Busan.