Soil dredged from the works on recently completed projects in Gwangyang port, South Korea, will go towards the port’s third phase of redevelopment.
Yeosu Gwangyang Port Authority has announced that the soil will be used to develop what has been tentatively called Yulchon Integrated Logistics Complex, a KRW456.2 billion (USD389.1 million) development.
The development is expected to take 10 years to complete, and will house companies in the materials, chemical, and logistics industries.
The chosen site occupies a 3.18 million m2 area near Yeosu National Industrial Complex, a petrochemical complex.
The Ministry of Oceans and Fisheries (MOF) expects the completion of this project will result in the creation of more than 45,000 new jobs and contribute more than KRW8 trillion to South Korea’s gross national product. In particular, the facility is expected to increase Yeosu Gwangyang Port’s cargo volume by about 9.4 million tonnes.
MOF’s director of ports, Oh Woon-yeol, said: “The land where the existing dredged soil has been deposited is being value-added by being turned into an integrated logistics complex. The construction works will contribute a lot towards growing the South Korean and the local economies.”
In June 2019, dredging to deepen the waters as part of work on Yulchon Industrial Complex I was completed after three years. The dredging deepened the waters to 12 m, while waters around Hyundai Steel’s nearby wharf were deepened to 10 m. The new water depths will grant access to ships of up to 30,000 gt and 12,000 gt, respectively.
The Yeosu Regional Office of Oceans & Fisheries’ manager of port construction, Kang Oh-soo, said: “The dredging works have removed a large obstacle to the entry and exit of ships. The safe navigation of ships also removes a significant amount of transportation costs for the companies that plan to take up space in the Yulchon complex.”