Pusan Newport accelerate to be a hub of Northeast Asia

Notes and media contacts

Media inquiries:

PNC contact
M.H. Kim
+8210 6480 6783

Tom Mollo/Elaine Boucher
DP World
+9714 367 2256

About Pusan Newport Co.
Pusan Newport Co., Ltd ('PNC') is located within Busan harbour limit at the western boundary of Busan metropolitan city in the Republic of Korea. Together with the logistical support area the sheltered terminal is strategically located just 20 minutes drive to the west of Busan (Gimhae) Airport.

PNC is constructing 3.2 kilometre of straight quay wall (9 berths). The construction is under progress as planned in the master schedule. The first 1.2 km of quay had an early opening in January 2006. At present (January 2007) PNC is the largest container terminal in Korea with 2 kilometre stretched quay and an annual gross container capacity of 3.6 million TEUs. By the time the development of the terminal is completed in May 2009 the capacity will be increased to 5.5 million TEUs designed to cater for the new generation mega-container vessels. The terminal will also feature two on-dock rail facilities allowing the cargo to flow directly to the capital city of Seoul. The New Port area is forecasted to become the Gateway Hub of Northeast Asia because of its strategic location between Japan and Northeast China. The surrounding area also has strong indigenous market and transportation infrastructure which makes the geographic position ideal for such a large container hub facility.

In addition, a total of 4.08 million square meters of terminal and logistics support area has been designated as Free Trade Zone adjacent to PNC which will encompass international facilities for integrated logistics and affiliated industries.
PNC is a joint venture among DP World (39.55%), Samsung (25%), Hanjin (10.22%), Hyundai (9.28%), Kumho (6.95%) and KCTA (9%).

About DP World
DP World is one of the largest marine terminal operators in the world with 42 terminals spanning 22 countries, and a dedicated, experienced and professional team of more than 30,000 serving customers in some of the most dynamic economies in the world.

DP World provides quality marine terminal services designed to enhance customers' supply chain efficiency. It does so by effectively managing container, bulk and other terminal cargo. It also provides logistics, infrastructure development and consultancy services where its experience adds significant value for customers.

The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.

In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship operations in Dubai, Port Rashid and Jebel Ali. Jebel Ali has been voted 'Best Seaport in the Middle East' for 13 consecutive years. DP World's international achievements were recognised in 2006, when Lloyd's List's awarded it the prestigious Port Operator of the Year Award.

In early 2006, DP World acquired P&O, including P&O Ports. The combined 2006 throughput of the company was around 42 million* TEU (twenty-foot equivalent container units) from the Americas to Asia, with global capacity of more than 48 million TEU. That capacity is set to increase significantly in coming years with a committed pipeline of expansion and development projects in key growth markets, including India, China and the Middle East. Capacity will rise to around 84 million TEU by 2016.

*Gross throughput for all terminals as at 31 December 2006