Kwangyang Port in Yeosu, South Korea's southernmost coastal area in the south of Busan City, is the second largest container port in South Korea. In the new project content, the port construction project for 24 berths is under the responsibility of the Korea Container TerminalsAuthority (KCTA). Among them, 4 container berths were completed and put into operation in 1998. The remaining two phases of the Gwangyang Port include the construction of 8 container ship berths on the 2.3-square-kilometer embankment, which was completed and put into operation in 2003; then, another 12 berths were constructed on the 4.2-square-kilometer embankment. A container ship berth is expected to be completed and put into operation in 2010. The total cost of the project is 691.7 million US dollars. By then, the annual loading and unloading capacity of Gwangyang Port will increase to 4.82 million TEUs.
Gwangyang Port has a water depth of 15 meters and is connected to the inland areas by roads extending in all directions. There is also a duty-free zone necessary for logistics operators. Guangyang Port has adopted a series of investment promotion measures, such as exemption of terminal usage fees, abolition of container tax, and reduction of container round-trip handling fees. Importers can extend the storage period of goods for free for 20 days; in addition, free entry fees, parking fees, and reduced Collect 20% tugboat fee and 15% pilotage fee. The reduction in port fees is very attractive for ocean-going container shipping companies . Several container liner companies have moved from other ports to Gwangyang Port.
The average transportation cost of trucks from Gwangyang Port to Seoul is 30 US dollars cheaper per TEU than Busan Port. When the Daejeon-Jinju Expressway and Gwangyang Port to the national railway network are all completed, the competition between the two major ports of Gwangyang and Busan will become more intense.
The unique natural conditions of Gwangyang Port are impressive. The port has channels and berths with a water depth of more than 20 meters, which can provide advanced and sophisticated port services for ultra-large container ships. The surrounding islands and mountains constitute natural breakwaters without the need for expensive artificial breakwaters. The water temperature in the port remains stable. Even in inclement weather, rough waves outside the port, and white waves, ships in Guangyang Port can still operate safely. Because of its low investment in port infrastructure, it is extremely competitive.
Gwangyang Port, Gwangyang Steel Plant, Yeochon Petrochemical Group Industrial Zone, and Yulchon Industrial Park jointly constitute an industrial mutual assistance system, which is one of the important reasons for the great development of Gwangyang Port. Hong Kong Hutchison Whampoa International Port Group Corporation (HPH) jointly developed the second and third phases of the container terminal in Guangyang Port, which was completed in 2003.
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Gwangyang port (port code: KRKAN), formerly known as Kwangyang port, is a large seaport in South Korea. It is located on the south-central coast of South Korea, in the city of Gwangyang, South Jeolla Province, just 18 kilometers north of the small Port of Yeosu, about 125 kilometers west-southwest of the country's largest port, Busan, and about 160 kilometers southeast of the Port of Gunsan.
Covering a water area of 14.5 hectares, this port contains 78 berths that accommodate some 43 thousand ships and handle about 200 million tons of cargo per year. It also has a natural breakwater and naturally deep channels with a depth of 16 meters (52.5 feet) that can support today's mega-vessels to 300 thousand tons.
The port’s Joint Logistics Center offers the full range of logistics services like assembly, storage, processing, and distribution. It covers an area of 7.4 hectares and contains 3.3 hectares of floor space. The logistics building contains 2.8 hectares of space for lease, and it includes a 1.2-acre office building.
The port’s Container Terminal boasts a 100 percent on-dock system that supports today's mega-vessels carrying over ten thousand TEUs of containerized cargo. The terminal can make an average of 30 moves per hour, making it a highly productive facility. Covering a total area of 274.6 hectares, with 170.7 hectares of container yards, it has a storage capacity for 123 thousand TEUs of containerized cargo with over 44.8 thousand terminal ground slots.
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