On August 1, the Ulsan Port Authority (UPA) and Hyundai Oil Terminal Corporation finalized a significant US$17.6 million equity investment agreement. This strategic collaboration is designed to establish South Korea's alternative marine fuel supply chain, with Ulsan Port serving as its central hub. The investment marks a crucial advancement following the government's emergency economic ministerial meeting in November 2023, which unveiled the 'Plan to Establish an Alternative Marine Fuel Supply Chain.' UPA is proactively leading initiatives to bolster the competitiveness of South Korean ports by expanding storage infrastructure for alternative marine fuels, such as green methanol. Under the terms of this agreement, UPA will actively participate in the terminal business, utilizing 100,000 kiloliters of the tank terminal's storage capacity. Furthermore, UPA will spearhead efforts to establish green shipping corridors, thereby streamlining the distribution of alternative marine fuels to both domestic and international energy firms and shipping companies. In parallel, Hyundai Oil Terminal will utilize UPA's investment to advance a new terminal project valued at approximately KRW 300 billion (US$219 million). This ambitious project entails a substantial expansion of storage facilities at Ulsan's New Port, adding 380,000 kiloliters. The initial phase of this expansion will focus on accommodating chemicals, oils, and eco-friendly fuels, including green methanol and ethanol, with commercial operations slated to begin in the first half of 2026. Upon completion of the terminal expansion, Ulsan Port's annual cargo handling capacity is anticipated to reach approximately...