Korea's HMM has teamed up with Singapore port operator PSA to take over PSA-Hyundai Pusan New Port (PHPNT) Pier 4 in Pusan.
The companies are spending KRW 221.2bn ($198m) to acquire the terminal from seller Waska.
The price consists of KRW 177bn from HMM, including Korea Ocean Business Corporation’s investment of KRW 50bn, and KRW 44.2bn
