Busan New Port Phase 2-3

Asset overview

Busan New Port Phase 2-3 ("BNP 2-3") is one of the five container terminals in operation at Busan New Port. Construction began in November 2007 and was completed in November 2011. The terminal commenced commercial operation in January 2012 with the annual handling volume capacity of 1.8 million twenty-foot-equivalent units (TEUs). BNP 2-3 completed its capacity expansion in May 2015 to increase the annual handling volume to 2.5 million TEUs and completed its second capacity expansion in January 2021 to increase the annual handling volume to 3 million TEUs.

Investment details

MKIF has invested in BNCT Co., Ltd (“BNCT”), the concessionaire of Busan New Port Phase 2-3. As of the record date, MKIF is a 30.0% shareholder of BNCT, and MKIF’s total investment amount is KRW 259.4 billion (equity KRW 66.4 billion and subordinated loan KRW 193.0 billion).

Asset location