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South Korea in port collaboration negotiations

South Korea in port collaboration negotiations

Seoul: South Korea is in negotiations with Chinese and Japanese governments for collaboration between the country's ports, local news agency Yonhap reports. "We plan to initiate (port affiliations) with Chinese ports in Tangshan, Qinhuangdao, Lianyungang and Nanjiang, as well as the port of Niigata, Japan," the Minister of Finance and Economy was quoted as having said in a statement. If successful the agreement could lead to an additional 2m teus worth of throughput annually at South Korean ports.

The negotiations are the latest in a series of steps taken by the government to secure South Korea's status as an important logistics hub in Northeast Asia. The country currently offers customers special tax breaks in designated free trade zones and plans to introduce a special logistics security. It also hopes to install 50 new berths in the southern ports of Busan and Gwangyang to increase port capacity to 16.5m teu by 2011.  [02/02/07]


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