Total Project Cost: 650.6 Billion KRW
On July 22, the Taeyoung Construction consortium announced that it has been selected as the eligible contractor for the implementation design of the "Busan Port Jinhae New Port Container Terminal Phase 1-1 (Section 2) Construction Project," commissioned by the Busan Port Authority (BPA).
Aerial view of the Busan Port Jinhae New Port Container Terminal Phase 1-1 (Section 2) construction project. Provided by Taeyoung Construction
Taeyoung Construction is participating as the lead company with a 33% stake, while GS Engineering & Construction holds 20%, Dongbu Construction 15%, and Gwanak Development, Youngjin General Construction, Haedong Construction, Jungwoo Development, Jungju Construction, Denver Korea ENC, ESI, and Sammi Construction each hold 4% stakes in the consortium. The design will be carried out jointly by Sekwang Engineering Consultants, Hangdo Engineering, and Daeyang Engineering.
The total project cost is 605.6 billion KRW (including VAT). The construction project is a large-scale infrastructure initiative located on the offshore area in Yeondo, Jinhae-gu, Changwon-si, Gyeongsangnam-do. It includes the creation of a 450-meter-long berth and superstructure capable of accommodating 8,000 TEU-class container ships, as well as a 240-meter western revetment. The construction contract is scheduled to be signed and work to commence in December this year.
During the design review process, the Taeyoung Construction consortium will apply a four-stage construction method utilizing a multifunctional separated revetment. This method uses a multifunctional structure (separated revetment) that serves both as a breakwater and a quay, dividing the construction process into four stages and performing them in parallel. This approach is expected to shorten the construction period and maximize construction efficiency, while also ensuring structural stability and maintenance efficiency.
In addition, the consortium received high marks for proposing a systematic treatment plan for soft ground to ensure stable site formation against long-term settlement, as well as the application of smart construction technologies.
Taeyoung Construction has consecutively won technology-based bidding projects, including the "Cheongju Multipurpose Indoor Gymnasium" in March, the "Dongtan 11 High School and Three Other Schools New Construction" in May, and both the "Gwacheon-Umyunsan Urban Expressway" and "Suwon City Resource Recovery Facility Improvement Project" in June.
A Taeyoung Construction representative stated, "It is very meaningful for us to participate in national infrastructure projects," adding, "Based on our accumulated know-how and differentiated technological capabilities, we will do our utmost to ensure that this port facility becomes a representative success story through responsible construction."
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