MOMAF drives for early development in hinterlands

The Ministry of Maritime Affairs and Fisheries (MOMAF) is speeding up the development of hinterlands.

MOMAF has mainly focused on developing ports until now. However, the necessity of hinterlands in Pusan for its hub port strategies is becoming clearer to MOMAF, causing it to accelerate its development plans for Korean hinterlands.

The Port Bureau at MOMAF asked the Korea Maritime Institute (KMI) to begin project research on October 17. The study should last 10 months, and results are scheduled for submission in August 2002.

MOMAF was empowered to develop port hinterlands as the National Congress passed a revised port bill last May, allowing a hinterland development project to be fully supported.

The revised port law was promulgated on May 24 and will be enacted from November 25, 6 months later, giving MOMAF cause to hurry in planning hinterland development.

The Port of Kwangyang and Pusan New Port are scheduled for hinterland development. Kwangyang will reclaim 660,000 pyoung of hinterlands between 2002 and 2011 with an investment of 245.4 billion won. The hinterlands for reclamation in Kwangyang will be east of the container terminal, and are expected to be designated as a Duty Free Zone. Kwangyang and the Korea Container Terminal Authority will jointly decide on a third party construction company. Construction is expected to start sometime after next year.

Pusan New Port began hinterland construction in December 2000.