DOMESTIC CARGO-HANDLING EQUIPMENT

[Anchor Lead]

Almost all of the cargo-handling equipment at Busan Port, the largest port in Korea, has been imported from China so far. Recently, domestically produced cargo-handling equipment, whose manufacturing had been suspended for more than a decade, has been installed at Busan New Port. Its economic impact is expected to be huge.

[Pkg]

Container cranes load and unload cargo to and from container vessels anchored at the terminal. They are high-tech cranes operated without human intervention. This world-leading technology has already been introduced at Rotterdam Port in the Netherlands and Long Beach Port in the U.S. This cargo-handling equipment was designed, manufactured, installed and tested by a Korean company.

[Soundbite] Park Jong-ho(Hyundai Infra Solutions) : "This smart crane is equipped with an automated unmanned platform, accident prevention and predictive maintenance devices and an eco-friendly power. Busan New Port is now able to beat its rivals in terms of global smart port equipment."

Busan Port had mainly used Chinese cargo-handling equipment because domestic manufacturing was relatively costly. There were no domestic container cranes at the port and only 16 percent of yard cranes were produced in Korea. But from now on cargo-handling equipment is to be localized. The goal is to secure source technology for cargo-handling equipment and market leadership in the development of core components. Some 300 billion won will be invested in the manufacturing of 55 domestic cranes over four years. The economic impact is expected to reach 800 billion won as well as 2,400 jobs being created.

[Soundbite] Min Byung-keun(Busan Port Authority) : "We have laid a foundation for competing in the global market, which reaches KRW 2 tn annually, by acquiring exclusive technologies and supply records."

Domestic cargo-handling equipment is to be installed and operated on a pilot basis within this year before its full operation is launched next year.