Pusan New Port allows group of regional businesses

Construction companies in Pusan and South Kyoungsang province are allowed to participate in developing hinterlands, which cover as much as 3.83 million square meters, for the Pusan New Port scheduled to kick off this September.

The Busan Urban Development Corporation (BUDCO) unveiled July 14 that they are finally confirming plans to begin hinterland development, one part of the Pusan New Port project.

BUDCO divided the construction sites into three parts, being obliged to involve three companies from Pusan and a company from South Kyoungsang.

This plan secured 270 billion won of work for 12 construction companies in Pusan and South Kyoungsang province.

Hinterland construction will consist of a 2,200 meter long breakwater, 2.34 million square meters of building foundation, and 3.56 million square meters of complex structures including roads, parking lots and other structures.

The hinterland project at the Pusan New Port will be located in Songjong-dong, Pusan and Yongwon-dong, Jinhae. A logistic complex, housing complex, commercial complex and exhibition complex will be built with 547.6 billion won investment. Completion is scheduled for 2013.