(SUWON=NEWSIS) The Gyeonggi Pyeongtaek Port Corporation (GPPC) signed a memorandum of understanding with Germany’s Bremen Port Authority and BLG Logistics Group on February 26 to expand the automobile logistics industry and promote investment.

The institutions will exchange information about automobile industry-related port policies and the development of infrastructure. They have also agreed to co-invest in automobile-related projects.

In order to develop the Pyeongtaek Port into a global automobile port, the GPPC will form a task force team to establish a high value added port cluster for automobiles.

The Bremen Ports make up the largest automobile port in the world and handled 2.3 million vehicles in 2014. The ports are a channel for exporting Korean-brand automobiles, including Hyundai and Kia, and importing most European brand automobiles, including BMW and Volkswagen.

The Pyeongtaek Port, which handled 1.5 million vehicles in 2014, is the largest automobile port in Korea.

nsj@newsis.com