Hanjin & Global join forces in Gamman and Gwangyang

MOMAF (Ministry of Maritime Affaires & Fisheries) approved a plans on June 20 to combine terminals and wharfs for Hanjin Shipping and Global Enterprise in Gamman wharf at Pusan Port and the first step wharf of Gwangyang Port.

Hanjin Shipping and Global Enterprise signed an MOU for the unification, and requested MOMAF approval by presenting an application with detailed plans to integrate cranes, gates, yards and IT systems on March 25.

MOMAF explained that it had 9 concerned field specialists perform an evaluation that found in April that the proposal was proper and met general regulations. MOMAF has decided to accept the Hanjin Shipping and Global Enterprise proposal.

The two companies will operate together from September after they register and set up a joint corporation.

They will secure enough wharf area with each other to handle 8,000 TEU mega container ships that will call at the wharf. Also, Gamman wharf will save up to 11.9 billion won and Gwangyang port will save 7.9 billion won thanks to reductions in calling times at the ports.

Meanwhile, other operating companies at Gamman wharf in Pusan Port and the first step wharf of Gwangyang Port, KOREX (Korea Express) and Hutchison, also decided on a basic plan to join forces this month.

One official from MOMAF said, "We expect that this will improve the operating systems of Pusan and Gwangyang ports and increase competitiveness for domestic ports."