Selection of Priority Negotiator for Temporary Use of Incheon New Port Phase 1-3 Site

Used Cars for Export and Utilization as Public Containers and Cargo Storage Yards

Temporary Utilization Site for Incheon New Port Phases 1-3 [Provided by Incheon Port Authority]

[Asia Economy Reporter Park Hyesook] The government has selected the preferred negotiation companies to temporarily utilize the site of Incheon New Port Phase 1-3 wharf and terminal, which is planned to be developed by 2040.

Incheon Port Authority announced on the 4th that it selected Woryeon International Logistics for B-1 zone (16,685㎡), P&B Shipping for B-2 zone (16,685㎡), and Seongwang for C zone (42,839㎡) as the preferred negotiators for temporary use of Incheon New Port Phase 1-3 sites.

The authority formed an evaluation committee consisting of port and logistics experts to comprehensively assess the bidding price, business capability, cargo volume, and employment plans of the applicant companies. The authority plans to conclude lease contracts with these three companies by next month after negotiations.

The site will be used as a storage yard for export used cars, empty containers, and cargo until the Incheon New Port Phase 1-3 wharf and terminal development project is fully underway. The lease period is from February next year until the end of 2024, with extensions on a yearly basis thereafter.

An official from Incheon Port Authority stated, "Through this recruitment of tenant companies, we expect to stably handle empty container and used car cargo at the new port, contributing to reducing logistics costs for customers using Incheon Port."

Meanwhile, the authority plans to complete the selection of preferred negotiators for the remaining two zones (A-1 24,499㎡, A-2 24,500㎡) of the Incheon New Port Phase 1-3 temporary use site by the end of this month through the second round of business plan submissions and evaluations.

Incheon New Port opened its Phase 1-1 container wharf (1,600m in length) in 2015 and plans to expand the Phase 1-2 container wharf (1,050m in length) by 2025. Phase 1-3 is scheduled for development by 2040, but the specific timeline has not yet been determined.

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