BPA plan for Pusan Port

BPA (Busan Port Authority) has been examining ways to streamline efficiency and productivity for Pusan Port and announced February 16 that it is preparing a new plan for better port management.
According to BPA, the existing PA (Port Authority) system where stevedoring equipment like cranes and exclusive use wharves are rented out to wharf operators has severe problems, so operators will supply necessary equipment themselves from now.
BPA will sell off all their stevedoring equipment to wharf operators and will invest the earnings elsewhere, like Pusan New Port.
With this, the authority will increase exclusive use container wharf lease terms from 10~30 years to 30~50 years as operators have been shy to invest in stevedoring equipment because of the relatively short lease terms as compared with other countries.
BPA will have wharf operators draw up plans and construct north side wharf berths in Pusan New Port to attract investment in larger equipment, which will save on costs.