Hyundai Steel commences private port operation

South Korean steelmaker Hyundai Steel Company began operation of a private port in the western coastal city of Dangjin to ship products to and from its factory nearby. Hyundai Steel invested Won 63.4 billion (around $66.4 million) in the construction of the 280 meter long port. The company plans to expand the port's width to 1,240 meters by the end of 2008.