South Korea Plans Nationwide Port Development


South Korea has revealed that it plans to grow the country's industrial and logistics infrastructure by developing eight of its ports.

The country's Ministry of Oceans and Fisheries has revealed that 30 million square meters of seaport hinterland will be developed by 2030.

It will invest in the ports located in Busan, Incheon, Gwangyang, Pyeongtaek-Dangjin, Ulsan, Pohang, Mokpo and Masan.

In December 2017, the Port of Busan reached 20 million TEU for the first time, making it the fifth-largest port in the world.

An increase in shipments of semiconductors, machinery and petrochemicals recently pushed South Korea’s exports to their highest level in at least six decades.