ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) The Ulsan Port Authority (UPA) announced February 12 that it will provide incentives to shippers that import freight via the Arctic Ocean to promote the Northern Sea Route.

The UPA will provide KRW 10 million to 50 million of incentives to shippers in accordance with the bulk or liquid cargo volume over the past year.

The incentive system will begin from July 1.

"The new system is meaningful in that the Korean shippers can also benefit from the incentives whereas only shippers who used the Northern Sea Route received 50 % reduction of the port facilities fees," said an UPA official.

hkm@yna.co.kr

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Source Text

Source: Yonhap News (February 12, 2015)

** This article was translated from the Korean.