The Korean Ministry of Ocean and Fisheries and the Busan Port Authority have revealed plans to develop Busan Port into a global transhipment hub.
Transhipment cargo at Busan has grown by 10% (average) year-on-year while local cargo has increased by 4.2%. In 2014, transhipment activities overtook local cargo operations for the first time in the port’s history with transhipment accounting for 50.5% (9.43 million TEUs), up from 31.7% in 2000.
Taking a lead from this success, the Korean government and BPA are implementing concrete plans to consolidate and strengthen Busan’s position as a global transhipment hub.
Busan reveals ambitious transhipment hub plans
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