Basic plan for the Port of Masan released

The Port of Masan expects to become a hub port outside of near sea tr
ade with the help of private investment and logistic centers in southe
rn South Korea, if the Machang Bridge across the Port of Masan is buil
t.

The Ministry of Maritime Affairs and Fisheries (MOMAF) gave notice re
garding the basic plans for the Port of Masan development according to
the Private Investment Law. The plans include provisions for building
two berths in a container quay, two berths in a general quay, and for
developing hinterland as large as 410 thousand pyoung (1 pyoung equal
s approx. 3.3 square meters). This is the first phase of the Masan dev
elopment plans in building twenty-one berths by 2011 adding 9.8 millio
n tons of cargo capacity.

The Port of Masan would be the second hub port for south-eastern Kore
a to focus on international trade routes, with the accomplishment of t
he port development as well as a customs free trade zone, which is bei
ng pushed for now. A public presentation will be held on December 8th
for the development project at the Masan Regional Maritime Affairs and
Fisheries, with negotiators being selected by the first half of next
year. Construction for the project will be launched in the first half
of 2002.