MOMAF develops new trading ports

To handle skyrocketing cargoes smoothly, two new trading ports in Inchon and Yangyang, Kangwon province, are going to be introduced.

The Ministry of Maritime Affairs and Fisheries (MOMAF) revealed that it is in the process of setting up new plans for nationwide trade port development in order to prepare Korea to be a leading 21st century maritime country. MOMAF will announce its basic plans by December, reported the Yeonhap news agency.

The new trade ports will be located in Inchon Southern Port and Yangyang New Port. Inchon Southern Port will be built on 5.2 million pyoung with 79 berths. Scheduled for completion by 2020, it will accommodate vessels anywhere between 10,000 and 50,000 tons and be able to handle 57.46 million tons of cargoes annually.

Yangyang New Port, preparing to receive 30,000-ton vessels, will be built on the outskirts of the new Yeounpo-ri airport with 6 berths, three in its container wharf and the remaining berths in a general wharf.

This second phase of development will include Dadaepo Harbor development in Pusan and Cheju Outer Harbor development, which were part of the first phase development but failed due to pressure from local residents.

Dadaepo Harbor in Pusan will be equipped with 5 berths by 2011 in a general wharf and will accommodate 20,000-ton vessels. Cheju Outer Harbor will have 7 berths including an international ferry terminal for 80,000-ton vessels by 2019.

An official at MOMAF said, "If we finish Inchon Southern New Port and Yangyang New Port, we can dissipate mounting pressures from increasing cargoes. We are going to push for these plans with both government and private capital."