Gyeongsangbuk-do Signs MOU to Establish Yeongilman Port as Northeast Asian Logistics Hub with Russian Partners
Gyeongsangbuk-do Province has initiated efforts to develop Yeongilman Port into a Northeast Asian logistics hub by signing a multilateral MOU with six organizations, including Russian firms. The agreement aims to build an international logistics network linking Russia, the CIS, and the Asia-Pacific. Key cooperation areas include developing new routes, establishing logistics systems related to the Northern Sea Route, and enhancing port services. The province plans to expand the port and promote related industries to capitalize on the Arctic Sea Route.
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Gyeongsangbuk-do Province signed a multilateral MOU on February 3 to establish Yeongilman Port as a Northeast Asian logistics hub in preparation for the Northern Sea Route (NSR). Approximately 30 representatives from six organizations, including local government officials and Russian company representatives, attended the ceremony at Pohang Yeongil New Port Corporation.
The MOU focuses on developing an international logistics network linking Yeongilman Port with Russia and the CIS. Key cooperation areas include new routes to Russian Far East ports, logistics systems connected to the NSR, and joint development in ship repair and port services. The province plans to expand the port to 32 berths and develop it as a multi-energy facility powered by wind and hydrogen.
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