Port budgets increase by 33% this year

The Pusan New Port and port related budgets for this year will rise 33% over last year.
According to the Ministry of Maritime Affairs and Fisheries (MOMAF) on January 4, 2002, maritime budgets in the Pusan area grew by 32.8% to 417.1 billion won over last year’s 314 billion won. This accounted for 16.1% of the total MOMAF budget, 2.58 trillion won.

The Pusan New Port project requires 288.9 billion won, an increase of 53.7% over the last year’s projections. Especially, budgets for three berths in the Southern container port have become an obstacle to the early opening of Pusan New Port. Also, highway compensation payments for the hinterland between Karak and Chojung, railway construction and compensation payments in the hinterland between Pusan New Port, and Samrangjin were appropriated this time around.

For the existing Port of Pusan, 85.7 billion won would be provided to plan the ferry terminal (2.1 billion won), to build a circular road (11 billion won) at the terminal, to support the Yangsan Inland Depot (11.7 billion won) and for container hinterlands (43.2 billion won).