Daewoo E&C announced on the 17th that the consortium it participated in as the primary contractor has been selected as the preferred negotiation target for the public investment project at the southern terminal of Busan Port.
The public investment project is a newly introduced method in October 2024, where the government and private sector collaboratively plan and refine the project considering policy directions after selecting the preferred negotiation target.
The southern terminal project at Busan Port is the first public-private cooperation project initiated in the port industry.
There is an advantage in that the government can present policy directions and surrounding infrastructure linkage plans in advance, and the private sector can incorporate creative ideas and business viability to enhance the quality of public services.
The project involves developing and operating two 2,000 TEU feeder berths and one 30,000 DWT multipurpose berth at the southern site of Busan Port.
In the future, it plans to collaborate with the Ministry of Oceans and Fisheries to refine the proposal and promote the project aiming for groundbreaking in 2029, after a qualification review and a third-party proposal announcement.