The port of Busan is the fifth busiest container port in the world in terms of total mass of 20-foot equivalent units transported. Yet no attempts have been made to estimate the greenhouse gas (GHG) emissions from the port of Busan by accounting for all port-related activities of the various transportation modes. With these challenges in mind, this study estimates the first activity-based GHG emissions inventory in the port of Busan, which consists of four transportation modes: marine vessels, cargo-handling equipment, heavy-duty trucks, and railroad locomotives. The estimation results based on the most recent and complete port-related activity data are as follows. First, the average annual transportation GHG emission in the port of Busan during the analysis period from 2000 to 2007 was 802 Gg $CO_2$-eq, with a lower value of 773 Gg $CO_2$-eq and an upper value of 813 Gg $CO_2$-eq. Second, the increase in the transportation-related GHG emissions in the port of Busan during the analysis period can be systematically explained by the amount of cargo handled ($R^2$=0.98). Third, about 64% of total GHG emissions in the port of Busan were from marine vessels because more than 40% of all maritime containerized trade flows in the port were transshipment traffic. Fourth, approximately 22% of the total GHG emissions in the port of Busan were from on-road or railroad vehicles, which transport cargo to and from the port of Busan. Finally, the remaining 14% of total GHG emissions were from the cargo handling equipment, such as cranes, yard tractors, and reach stackers.