JEOLLABUK-DO < invest Korea

According to Yonhap News,

(GUNSAN=Yonhap News) The Gunsan Regional Office of Oceans and Fisheries announced that the total budget allocated for the first phase construction of Saemangeum New Port, which is carried out as the government's financial project, has been increased from KRW 328.2 billion won to 715.3 billion.

The Ministry of Strategy and Finance decided to raise the project budget after confirming the necessity to build infrastructure including bank protection, breakwater and entrance road.

With the increased budget, 6.3km of bank protection and 1.3km of entrance will be built in addition to the 3.1km of breakwater that has already been constructed.

On top of that, one berth for automobiles, two berths for miscellaneous goods and one berth for containers will be built through private investment.

The Gunsan Regional Office of Oceans and Fisheries expects to start construction in earnest in the second half of the year after start placing orders in February.

kan@yna.co.kr

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.