Busan Port Authority has selected Hanjin Shipping Company and Hyundai Merchant Shipping Company as terminal operators of Phase 2-1 and 2-2 at Busan New Port respectively. BPA said yesterday that five companies from Korea and abroad participated at the bidding and added that when the terminals at phase 2-1 and 2-2 are built by 2008, Busan New Port's accessibility such as road, rail, infrastructure and other facilities will be completed, which encouraged the companies to participate in the bidding. The final two companies were named after the participants' business plans, including cargo creation, terminal operation, and finances, were evaluated by an evaluation committee. BPA will sign contracts with the selected companies on terminal use and lease and ask the companies to set up cargo handling facilities and equipment. BPA also added that the terminal operators' selection will be served as an opportunity to spur vitalization of Busan New Port at an early stage.