The Korean government and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) have agreed to form a partnership that will focus on developing ports in East Asia and across the Pacific region.
The partnership was a result of capacity challenges at a number of ports in these regions due to a lack of infrastructure, despite rapid economic growth and a growing volume of cargo.
As part of the partnership, the ministry said that it would first help to organize an international seminar on port development during which it plans to share Korea’s experience in developing container terminals, bulk terminals and other port facilities.
This move has an aim of improving cargo flows across the region and further contributing to global economic growth worldwide, according to the ministry.
Earlier last year the ministry worked on port projects in Guatemala, on the ports at Santo Tomas de Castilla and at Quetzal, as the two governments had signed an MOU covering port development there in 2014.
The Korean government has also been working on developing ports in Columbia and El Salvador, as well, since 2015.
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