DP World increases stake in Busan’s largest terminal

Dubai-headquartered port operator DP World has increased its share in the South Korean Port of Busan’s Pusan Newport Company Limited (PNC) to 66.03%.

The transaction, the terms of which were not disclosed, included the acquisition of a 23.94% stake in the facility from the South Korean Samsung Corporation & Subsidiaries.

PNC, which is the largest terminal at the Port of Busan, has a capacity of 5.25m teu per year, handling approximately 34% of the port’s volumes.