South Korea has announced a 14 trillion won (US$10 billion) investment in expanding Busan Port, with a vision to create the world's leading container handling facility by 2045. The initiative will see the construction of a new port in Changwon, which will be integrated with the existing Busan Port, effectively doubling its cargo handling capacity. This development comes as a response to the shifting dynamics of global production and the need for enhanced maritime logistics capabilities amidst geopolitical and climate uncertainties.
The Ministry of Oceans and Fisheries emphasized the importance of this expansion for maintaining Busan Port's status as a premier global transshipment hub. The project aims to increase the port's vessel accommodation capacity from 40 to 66 and extend the total berth length from 18.8 kilometers to 25.5 kilometers. In addition to the physical expansion, the plan includes the adoption of carbon-free renewable energy sources for port facilities and the provision of green power infrastructure for vessels.
Source: Container News