Huge Infrastructure Projects Ahead for Jeju Island and Shipping Industries
SEOUL, Dec. 29 (Yonhap) -- The government said Wednesday that it plans to spend 4.22 trillion won (US$3.48 billion) to upgrade seaport facilities and strengthen logistics functions on the country's southern resort island of Jeju and the eastern port city of Donghae.
According to the Ministry of Ocean and Fisheries, a total of 2.45 trillion won will be poured into building more cruise berths and sea walls at the port of Jeju by 2030, to attract more cruise passengers, with 1.77 trillion won to be spent for the port of Donghae to expand logistics facilities.
Earlier, the government said it would inject 14.7 trillion won to improve seaport facilities and strengthen logistics facilities by 2020 as part of its long-term plan to deal with intensifying competition in the global shipping market.
Under the plan, the government will expand docks and wharves to house more container carriers and build a wider road network to beef up logistics infrastructure for export-oriented industries, such as petrochemical, automobiles and steel.'