As the trade in North-East Asian Region gets more attractive and important under the influence of China`s super-speed economic growth, major companies in the world put more overseas investment in same region than before. North-East Asian Region`s econ...
As the trade in North-East Asian Region gets more attractive and important under the influence of China`s super-speed economic growth, major companies in the world put more overseas investment in same region than before. North-East Asian Region`s economic briskness and step-up in international economic partnerships will expectedly contribute to much boosting up the quantity of goods transported via local coasting routes. Under the circumstances of port environments are rapidly changing, containerships are getting larger and faster and major shipping companies are converting to Hub & Spoke port networks on the transport systems. This trend forces main ports in North-East Asia to compete intensively with each other for hub port. There is no doubt that Busan and Kwangyang ports has a comparative advantage in comparison with other ports in the same region in terms of geological position, locational conditions and external reputation. But, when it comes to the volumes of transshipment cargoes, the quality of infrastructure in ports, the environment of logistics service, Korean ports have a comparative disadvantage. It is desperate to suggest some efficient strategies for Busan and Kwangyang ports to play an important role as a hub-port in North-East Asian Region. It is necessary that Busan New port specialize in dealing with freights via East Sea rim while Gwangyang port specialize in dealing with freights via Yellow Sea rim. It is also desirable that policy should concentrate on developing international hub-port integrated functions related to international logistics and the two ports need to be managed under one port system to strengthen international competitiveness.