Gwangyang City Promotes Special Project to Revitalize Gwangyang Port

Investment of 2 Billion KRW, Yeosu Gwangyang Port Authority and Jeonnam Technopark Foundation Sign Activation Agreement

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Gwangyang City announced on the 23rd that it will invest a total of 2 billion KRW in a special project to revitalize Gwangyang Port.

The container throughput at Gwangyang Port has been gradually decreasing, with 2.4 million TEU in 2018, 2.38 million TEU in 2019, and 2.15 million TEU last year. In response, the city is promoting a special project to revitalize Gwangyang Port as a countermeasure.

To revitalize Gwangyang Port, the city held two meetings last year with the governor and port officials to hear their on-site voices and explored various measures several times with Jeonnam Province, Yeosu Gwangyang Port Authority, Jeonnam Technopark, Yeosu Gwangyang Port Development Council, and operators (GWCT, KIT).

The city secured a total project budget of 2 billion KRW (1 billion KRW from the province and 1 billion KRW from the city) and decided to implement 12 projects including ▶support for leasing equipment at Gwangyang Port ▶customized commercialization support for companies in the port hinterland complex ▶feasibility study for establishing a hydrogen-exclusive port at Gwangyang Port ▶research on cargo attraction and creation measures following the establishment of an automated terminal ▶Gwangyang Port revitalization policy forum ▶cargo volume creation seminar, among others.

The Gwangyang Port equipment leasing support project will provide two reach stackers each to operators free of charge for two years through an agreement with Yeosu Gwangyang Port Authority, and the other 11 projects, including customized commercialization support for companies in the port hinterland complex, will be carried out through an agreement with Jeonnam Technopark, a regional strategic industry promotion institution.

Jang Min-seok, Director of the Steel Port Division, said, “Through the special project to revitalize Gwangyang Port, port-related organizations will join forces to overcome this crisis as soon as possible.”

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