South Korean Ministry of Oceans and Fisheries revealed plans to develop 30 million square meters of seaport hinterland by 2030, in line with a broader national development plan to boost the country’s industrial and logistics infrastructure, Yonhap news agency reported citing government sources.
The new hinterlands are expected to be set up in eight ports, Busan, Incheon, Gwangyang, Pyeongtaek-Dangjin, Ulsan, Pohang, Mokpo and Masan. These ports are capable of handling 10 million tons of cargo annually, as well as 2,000 twenty-foot equivalent unit class container ships and have a 240-meter general cargo wharves.
The ports have also secured approximately 300,000 square meters of land for development.
South Korean government has announced again port hinterland projects in 2006 and 2012, but now it has emphasized on securing manufacturing and logistics-related land to improve mostly investments.
The ministry said that by 2030, 1.5 trillion won will be injected into the effort, generating as much as 11.9 trillion won worth of production inducement effects. The move is also expected to create 87,000 new jobs.
