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Busan New Port launches first automated container terminal in South Korea

South Korea’s Busan New Port has increased capacity with the opening of a seventh container terminal.

Michele Labrut, Americas Correspondent

April 10, 2024

1 Min Read
Busan New Port
Busan Port Authority

The terminal’s opening ceremony was attended by President Yoon Suk Yeol, who said the new terminal will bring Busan Port into a world-class smart port and hub for global logistics.

It is the first fully automated terminal in the country with remote-controlled Ship-to-Shore cranes built in Korea and is expected to raise the port’s productivity by up to 20%.

The Busan New Port was opened in 2006 shifting development away from the congested city harbour.

The expansion of the Busan New Port is scheduled to last until 2040-2050. According to the Busan Port Authority, the total expansion project is expected to cost around $32 billion after completion.

Last year’s container volume at the Port of Busan reached a record high of 22.75 million teu, about a 3.1% rise compared to last year.

President Yoon promised to provide $4 Billion in government funds to national shipping businesses so they could grow their fleet and support the transition to a greener and better economy.

The Port of Busan is a hub port in Northeast Asia equipped with high-tech logistics facilities. It connects 500 ports in 100 countries worldwide.

 

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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