MOMAF pushes for PA

Despite problems concerning how to appoint the new president and operation rights that could very well sink the entire deal, the Port Authority (PA) system is still very much on the table although there will be several minor amendments to it.

The Ministry of Maritime Affairs and Fisheries revealed on October 31 that it is trying to expedite the PA system to make South Korea the fifth strongest maritime country. MOMAF proposed some amendments to the PA bill.

MOMAF planned to submit the bill to the National Congress through discussion, examination and decision processes within days.

The amendments would establish the port authority as "an investment in kind" and allow the government to not include public funds for the PA budget. This resulted from the government declaring that it is impossible to support the PA any more.

Concerned with deliberations and how to appoint a president, a board of directors will be composed according to the bill instead of the port council. The board will have 7 executive directors and 8 non-executive directors. Except for the president, all executive directors will be appointed by the Minister of Maritime Affairs and Fisheries and non-executive directors will be appointed by the Minister of Planning and Budgets through a committee.

A special committee with members appointed by both local and federal governments will be responsible for nominating potential PA presidents. The Korea President, however, will ultimately decide on who will be the PA president.

An official at MOMAF said, "We deleted and revised controversial articles in the Port Authority bill. We are going to push for the Port Authority system without delay, reflecting all concerned opinions."