BUSAN < invest Korea

(BUSAN=NEWSIS) The Busan Port Authority (BPA) announced on September 16 that the Authority signed a memorandum of understanding (MOU) with Naigai Trans Line, a Japanese logistics service company, to attract investment from Japanese companies in the logistics complex of the Busan New Port.

Naigai Trans Line is a global logistics service company in Osaka, Japan with sales of KRW 160 billion in 2013. The BPA explained that the investment is to reduce the high inland freight charge and storage cost and secure stock in response to earthquakes.

About 74 foreign companies invested KRW 90.1 billion in the logistics complex of the Busan New Port, which began operation in 2010. The accumulated logistics from 2010 reached 2.705 million TEU and created 1959 new jobs.

Among them, 32 companies are Japanese companies (KRW 46.9 billion of investment) and account for 42 percent of the foreign capital of the logistics complex of the Busan New Port.

yulnetphoto@newsis.com

Source Text

Source: Newsis (September. 16, 2014)

** This article was translated from the Korean.