Jeju Province considers returning port management rights to central government

Jeju Governor Wi Seong-gon has proposed returning port management authority to the Ministry of Oceans and Fisheries to address the massive financial burden of developing the new Jeju Port. The project is estimated to cost approximately 3.8 trillion won, with public funding requirements exceeding 2.5 trillion won.

Currently, Jeju manages seven local ports, incurring annual maintenance and operation costs between 60 billion and 80 billion won. Spreading the new port's construction costs over a 10-year period would require roughly 250 billion won annually, a figure far exceeding the province's current budget capacity.

National Assembly member Kim Seong-beom has advocated for amending the Jeju Special Act and the Port Act Enforcement Decree to designate Jeju Port as a state-managed port. This shift would allow the central government to take responsibility for both the development and management of the new port. The Ministry of Oceans and Fisheries stated it is prepared to consult with relevant agencies and the National Assembly if Jeju Province decides to pursue this transition.