Invest KOREA

The Incheon Port Authority (IPA) has been working on establishing its overseas office in Vietnam to diversify sea routes in the Incheon Port and increase the quantity of goods transported from Southeast Asian countries. Once the establishment plan is confirmed by the Ministry of Oceans and Fisheries, IPA will select one of the Vietnamese cities to locate the office and personnel.

IPA expects that the quantity of goods transported between Korea and Vietnam will increase if the ongoing talks on a Korea-Vietnam free trade agreement are concluded and the agreement is signed. Its Vietnamese office will work not only to increase the quantity of goods transported between the two countries, but also to secure goods transported from Indochina countries, such as Thailand, Cambodia, and Laos.

The Incheon Port Authority, established in 2005, has one employee working at the Yantai Port Authority of China under the employee exchange program. It is currently striving to open its very first overseas office in Vietnam. The Busan Port Authority, which has overseas offices in China and Japan, is endeavoring to establish offices in Singapore and the U.K.

Source: Yonhap News (Apr. 3, 2013)

** This article was translated from the Korean.