BUSAN < invest Korea

According to Yonhap News,

Busan Port Authority (BPA), which manages Busan Port, is considering ways to expand its business into overseas markets.

BPA announced on the July 27 that it is carefully considering the possibility of entering the logistics business in Savannah, Georgia, in the eastern part of the United States.

To this end, it recently contacted the Seoul office of Georgia State, and has been seeking ways to launch logistics business jointly with domestic companies that have entered the eastern coast of the United States through its local representative.

A BPA official said, "We are considering various possibilities in the logistics business in the State of Georgia."

BPA has been pushing for logistics business in Europe and Southeast and Southwest Asia.

It is establishing a local corporation in the Maasvlakte area within the Port of Rotterdam in the Netherlands, the gateway to Europe, and is building a logistics center in the scale of 30,000 ㎡. The logistics center is scheduled to open in January next year.

In the Port of Barcelona, Spain, BPA is to establish a joint venture with a local Port Authority and rent a logistics center located in the hinterland and entrust its operation to domestic and foreign companies.

In the Port of Probolinggo located in East Java, Indonesia, BPA set up a joint venture with PK, a local logistics company, and the Korea Overseas Infrastructure & Urban Development Corporation (KIND). It plans to build and operate a bonded warehouse equipped with a warehouse (10,002 ㎡) and a yard (13,000 ㎡) in the hinterland.

BPA is also actively pursuing a plan to acquire a stake in a local container terminal owned by the Adani Group, India's largest private port company.

It has started joint study with the Port Authority of Thailand to identify new cooperative projects.

It is also engaged in discussion to build and operate a grain terminal in Ho Chi Minh Port, Vietnam.

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Source:Yonhap News (July 27, 2021)