Construction begins on South Korea's Saemangeum sea port
Construction of an international sea port on a massive plot of reclaimed land on the southwest coast that could help fuel regional growth has begun according to a 'Korea Times' report.
Once completed in 2030, the new Saemangeum port located 280 kilometers south of Seoul, will be able to handle 17.29 million tons of freight per year and have pier facilities to berth 18 ships simultaneously, the Ministry of Land, Transport and Maritime Affairs informed 'Korea Times'.
It said 250 billion won ($214 million) is earmarked for the construction of the port that will cover 4.88 million square meters and have 3.5 kilometers of breakwater.
The port will also speed up development of the Saemangeum project that aims to turn the reclaimed tidal flats into an industrial, tourism and agricultural hub.
Seoul has spent around 3 trillion won since 1991 to build the world's longest 33.9-kilometer-long seawall and reclaim 40.100 hectares of new land and make a freshwater lake. It is in the process of allocating more funds to transform the region into an eco-friendly manufacturing hub for automobiles, industrial materials and reusable energy companies.