Today, the South Korean Ministry of Oceans and Fisheries presented a plan to consolidate the role of the Port of Busan as a global port hub, with the aim of increasing its competitiveness by making it the third largest port in the world, which is focused on the construction of the new port area by 2045 Jinhae with a total investment of 14,000 billion won ($9.8 billion). Minister Kang Do-Hyung specified that the new port area will be similar to that of Tuas in construction in Singapore: "We will create - he underlined - an infrastructure where ships from 30,000 TEUs, surpassing the 24,000 TEU class that is currently largest ships in the world, and we will create areas of storage that will be 1.5 times larger than those existing'.

Do-Hyung announced that for the management of the nine quays of the first phase of the Jinhae New Port project will be selected a single operator, phase that will have a of annual traffic of over six million TEUs. A capacity - the minister pointed out - which will make it possible to manage the volume of traffic currently more substantial in the Port of Busan, amounting to 6.5 million TEUs, which is that of THE Alliance, the vessel sharing agreement established by the companies HMM, ONE and Yang Ming which is currently the largest customer of the South Korean port.

Do-Hyung explained that if a single operator managed traffic brought by THE Alliance, this would allow the docks to operate efficiently and reduce the transshipment of containers to other Moli. Transhipment activities which, in relation to the transfer of cargo from one ship to another, however, represents a core business of the port of Busan, a port that currently handles 76.8% of Korea's entire containerized shipping traffic of the South and manages 97% of the entire transhipment traffic.

By announcing that the transshipment from ship to ship of a generates an added value of about 150,000 won (105 dollars), including port fees, storage fees, and other the Minister noted that, however, the activity of the of transhipment is generating some operational difficulties, in particular in particular in the transhipment of cargo on other port piers and in the inefficient management of moorings as the port areas are operated by many terminal companies. In 2023, the year in which the port of Busan handled an equal container traffic totalling over 22.7 million TEUs, the transport of a container from one pier to another have totaled A volume of 2.32 million TEUs and additional logistics costs amounting to 55.1 billion won ($38 million).

In addition to the new port infrastructure, the plan provides for the construction of new surfaces of 3.62 million square meters near the port of Busan where it is intended to attract large global logistics companies whose investments would be supported by the State.