BPA Selects 'Hutchison' as New Operator for Busan North Port Shingamman and Gamman Piers

President Kang Joon-seok of BPA (left) and CEO Jung Ho-soo of Korea Hutchison Terminal are signing a preliminary lease agreement after mutual consent.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan Port Authority (BPA) selected Korea Hutchison Terminal as the new operator of Berth No. 1 at the New Gammangman Pier and Gammangman Pier in Busan Port North Port on the 6th and held a preliminary lease contract signing ceremony.

Executives and employees from both companies attended the signing ceremony, where BPA President Kang Jun-seok and Hutchison CEO Jeong Ho-su signed the mutually agreed preliminary lease contract.

BPA selected Hutchison as the preferred negotiator on November 30 of last year based on the results of an open competitive bidding process and an external evaluation committee.

Subsequently, negotiations were held for one month regarding the implementation methods of the business plan proposed by Hutchison, the promotion schedule, and the detailed contents of the preliminary lease contract, resulting in an agreement. The final negotiation was officially notified on December 29 of last year.

Hutchison will operate a container terminal with a total of four berths for ten years starting from January 1, 2024, the scheduled commencement date of operations at Berth No. 1 of New Gammangman Pier and Gammangman Pier, providing cargo handling services to shipping companies using the North Port.

Due to port redevelopment, Hutchison will transfer the volume previously handled at Jaseongdae Pier, where container terminal functions will end by the end of this year, to the new pier and maintain 100% employment of existing port workers, contributing to the stabilization of container logistics and jobs at North Port.

Additionally, the cargo and workforce from Jaseongdae Pier, the candidate site for the 2030 World Expo, will be relocated to nearby piers, ensuring smooth preparation for the government’s national agenda of hosting the 2030 Busan World Expo.

BPA emphasized employment stability for Jaseongdae Pier workers during the selection process of the new operator. With Hutchison, which has extensive domestic and international terminal operation experience, finally selected as the operator, North Port’s role as an intra-Asia (IA) shipping hub port will be further enhanced.

BPA President Kang Jun-seok stated, “Korea Hutchison Terminal’s final selection as the operator of Berth No. 1 at New Gammangman Pier and Gammangman Pier will minimize disruptions in cargo handling due to the closure of Jaseongdae functions and play a positive role in attracting the 2030 World Expo.” He added, “BPA will actively support the transfer of cargo and workforce from Jaseongdae Pier to the new pier to ensure uninterrupted container logistics flow within North Port.”

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