"Making Ulsan Port a Northeast Asia Energy Logistics Hub Port"

The 4th National Port Basic Plan Reported at the Cabinet Meeting on the 17th
Includes Full-Scale Promotion of Oil Hub Phase 1 and Active Support for Phase 2

Ulsan City Hall exterior view. (Photo by Ulsan City Hall)

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan Port is expected to be reborn as a ‘Northeast Asia Energy Logistics Hub Port.’

Ulsan City announced that the Ministry of Oceans and Fisheries will report the ‘4th National Port Basic Plan (2021~2030),’ which contains mid- to long-term development plans for ports nationwide, at the Cabinet meeting on the 17th.

The ‘4th Port Plan’ is a basic plan established every 10 years since its first announcement in 1995.

The main contents include the classification and location of ports according to Article 6 of the Port Act, port management and operation plans, future demand for port facilities, supply of port facilities, scale and development timing of port facilities, improvement and maintenance of the use and functions of port facilities, establishment of port-linked transportation networks, and planned areas for port facility installation.

Among the port basic plans, the Ulsan Port basic plan includes the creation of an energy logistics trading hub port in preparation for the expansion of oil and gas supply chains in the New Northern and Arctic regions, the full-scale promotion of the Oil Hub Phase 1 project, and active support for Phase 2 projects.

Accordingly, it is expected that Ulsan Port will be developed as a Northeast Asia energy logistics hub port, strengthening its international competitiveness.

In addition, the 4th plan includes reducing logistics costs and improving traffic conditions through the construction of a hinterland road for Ulsan Port (Main Port to New Port) and converting the North New Port breakwater into a fiscal project to promote corporate investment attraction.

The construction of the Ulsan Port hinterland road is being promoted due to worsening traffic conditions caused by port cargo volumes passing through city roads among the port hinterland roads.

This content was produced with the assistance of AI translation services.