South Korea's government announced a 14 trillion won ($9.75 billion) investment to transform Busan Port into the world’s largest container hub by 2045. A new port will be constructed in Changwon and integrated with the existing Busan Port to create a "mega port" with double the current cargo handling capacity.
The upgraded port will accommodate 66 vessels, up from 40, with berth length extended to 25.5 kilometers from 18.8 kilometers. Carbon-free renewable energy facilities and green power infrastructure for ships will also be introduced, according to the Ministry of Oceans and Fisheries.
The plan aims to bolster Busan's status as a global transshipment hub amid geopolitical uncertainties and climate challenges, ensuring the port's competitiveness in maritime logistics.