<\/a><\/p>\n

 <\/p>\n

SOUTH KOREA PLANS TO TRANSFORM BUSAN IN THE SECOND PORT OF<\/strong>
\nWORLD'S LARGEST LOAD TRANSHIPMENT BY 2020<\/strong><\/p>\n

South Korea plans to transform Busan into the second port of
\nlargest cargo transshipment in the world by 2020, through
\nthe construction of infrastructure and the rationalization of
\noperations, as announced by the Government.<\/p>\n

According to what the Korean news agency Yonhap publishes, the
\nmeasure could allow the country's largest port to overtake Hong Kong,
\nlocated in the second international place, after Singapore, according to
\nreported the Ministry of Oceans and Fisheries.
\nTransshipments refer to the handling of cargo and containers in
\nan intermediate destination between the point of origin and the final destination in
\nanother place.
\nAccording to the Korean media, last year, the volume of
\ntransshipments at Busan port stood at 9.43 million TEU
\n-containers units equivalent to twenty feet-, whose number is
\nwould rise to 13 million by 2020. The measure would have a
\neconomic impact of about 1.5 trillion won (1,315 million
\ndollars), as announced by the ministry.
\nCurrently, the port of Busan, in the south-eastern tip of Korea
\nSouth, is in charge of the shipments coming and going to China,
\nJapan, Russia, Australia, and North and South America.
\nThe ministry said that, to achieve the objective, measures will be taken
\nto gradually shift all container operations, which
\nconstitute the majority of the transshipment cargo, from the Port
\nBusan North to its New Port to optimize its operations.
\nThe measure will improve efficiency and achieve an economy of
\nstopover in the Puerto Nuevo sector, which will strengthen its competitiveness
\ngeneral against his rivals.
\nAccording to the ministry, in the first half of 2016 a
\ninternational terminal operator (GTO, according to its initials in
\nEnglish), made up of five companies, including the Port Authority
\nBusan, in order to better manage various operations.
\nThe establishment of a GTO will allow a local operator to enter
\nin the international terminal business area, dominated by
\nforeign companies such as Hutchison Port Holdings and PSA International.
\nA GTO uses its cargo handling capabilities at its national port
\nas an impetus to expand its cargo handling operations in the
\nExterior. Hutchison operates from Hong Kong, while PSA has been set
\nin Singapore.
\nThe plan also envisages turning the Busan North Port into a
\nindustrial area that can build or assemble industrial plants
\nmarine.
\nUnder that plan, related laws will be changed to make
\npossible expansion of the port into non-logistics industries, which
\ncan create new growth opportunities. The current laws of
\ncountry prohibit ports from being used for another service that does not
\nbe the handling of cargo and people.<\/p>\n

SOURCE: ARGENTINE DISPATCHERS<\/strong><\/p>\n

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