News Release

9th December 2003

HKT Returns to Full Operation


[9 December 2003, Seoul] On Tuesday 9 December, Hutchison Korea Terminals (HKT), a member of Hutchison Port Holdings, celebrated the return of full operations with the commissioning of three brand new quay cranes.

The celebration took the form of a traditional ‘Gosa’ ceremony, a good-luck ceremony for safe and prosperous use of the new equipment. The ceremony featured distinguished guests including Mr. Jae-Gyoon Lee, Administrator of the Busan Regional Maritime Affairs & Fisheries Office, Mr. Byung-Kwan Yang, Auditor of Korea Container Terminal Authority, and Mr. Hwa-Sik Bok, Vice Chairman of the Busan Port & Transport Worker’s Union.

In the opening address, Mr. Raymond Law, HPH’s Head of Korea, the Middle East and Africa, commented, “I am very pleased to announce that the operation levels of HKT’s Busan Terminal have fully recovered from the damages caused by Typhoon Maemi in September. This could only have been made possible through the leverage of the HPH Group’s global resources.”

The three new Super Post-Panamax quay cranes arrived at HKT’s Busan Terminal (HBCT) in November to replace the two cranes damaged by Typhoon Maemi in September. Having completed test operation and commissioning, the new cranes will commence operation on 12 December 2003.

Won-jong Choi, CEO of HKT added, “Indeed, this occasion serves as a fillip for HKT as the terminal enhances productivity with an additional quay crane in operation. With the continued commitment of the HPH Group and the best efforts of HKT’s management and staff, we will strive to offer the highest level of service possible.”