- South Korea plans to invest $10 billion (14 trillion won) in upgrading Busan Port by 2045.
- A new port in Changwon will integrate with Busan Port, doubling its cargo handling capacity.
- The project focuses on sustainability, including renewable energy-powered facilities and vessel green power supply.
South Korea is investing $10 billion to transform Busan Port into the world’s largest container-handling hub. By 2045, the integrated “mega port” will enhance cargo handling capacity, address global trade shifts, and incorporate green energy solutions to lead maritime logistics sustainably, reports Container News.
South Korea’s Vision for Busan Port’s Future
South Korea’s government has unveiled plans to invest 14 trillion won (about US$10 billion) in the development of Busan Port by 2045, to create the world’s largest container handling capacity.
The ambitious project aims to safeguard the port’s global transshipment hub status and enhance competitiveness amid shifting trade dynamics and climate challenges.
Integrating Changwon with Busan: The Mega Port
A new port in Changwon will be constructed and seamlessly integrated with Busan Port to form a unified “mega port.” This development is expected to double cargo handling capacity, accommodating 66 vessels compared to the current 40.
The berth length will also increase significantly from 18.8 kilometers to 25.5 kilometers, enabling more efficient operations.
Sustainability at the Core
The project incorporates renewable energy solutions, with plans to install carbon-free facilities and green power infrastructure for vessels.
This focus aligns with global efforts to decarbonize the maritime industry while boosting operational efficiency.
Addressing Global Trade and Environmental Challenges
The Ministry of Oceans and Fisheries highlighted the need for proactive measures to adapt to global uncertainties, stating:
“Amid the relocation of production facilities due to the conflict between the United States and China, along with geopolitical uncertainties and climate challenges, the maritime logistics industry is facing increased uncertainty.”
The government emphasized that connecting new and existing ports is critical to maintaining Busan Port’s reputation as a global maritime leader.
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Source: Container News
