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Korea Invests in Ocean Cruise Harbors

By ,   August 31, 2019 ,   Cruise Industry

South Korea has 5 international cruise terminals - two in Jeju, one in Sokcho, one in Incheon, one in Busan. With country's Ministry of Oceans & Fisheries focusing on the cruising tourism's development, its plan to open a brand new Jeju Port, aimed at handling a larger number of inbound tourists, has recently been approved by the Cabinet.

The endorsed budget for the 3rd ocean terminal on Jeju Island (total annual passenger capacity 4,7 million tourists) is set at KRW 2,8 trillion (USD 2,3 billion).

The new cruise-dedicated harbour will be built on the island's northern part, including areas in Samdo-dong, Geonip-dong, and Yongdam-dong, by 2040.

Local and central government officials expect Korea's new Jeju Port to take the initiative in attracting inbound tourists alongside Songdo International Cruise Terminal in Incheon, that opened earlier in 2019. 

Meanwhile, the Oceans Ministry increased the budget for all major cruise port terminals. As part of the move to create a Northeast Asian cruise ship hub, the Oceans Ministry invited 10 global cruise operators in 2018, including Carnival, Costa, Princess, and Royal Caribbean, in coordination with the local governments of Busan, Jeju, Incheon, Gangwon Province, and South Jeolla Province.

Port of Busan (South Korea)

The Oceans Ministry held talks last November in the capital of Nicaragua, Managua. The Nicaraguan government mapped out plans to modernize harbors and upgrade cruise passenger terminals in coordination with Korea. The country is also hoping to expand talks to Costa Rica and Honduras for joint development of the west Caribbean coastline.