MOMAF postpones increasing port usage fees

"Port facility usage and usage fees" are wholly revised and will be in force from January 1st next year.

The Ministry of Maritime Affairs and Fisheries announced that though it wanted to increase port usage fees in order to fund port facility improvements, it has decided to postpone the increase because of sluggish marine and export markets. It also planned to alter currently illogical systems and to support local economies.

The government will encourage export cargoes by supporting a 20% discount on port usage fees. It will also try to stimulate local economies by applying a 50% discount to international car-ferry trades in local cities such as Sokcho - Jaruvino and Pyoungtaek (Kunsan) - China trades. Cruise-ships can also benefit from a 50% cut in port usage fees in the tourism industry.

Though Pyoungtaek eastern and western harbors' exemption periods expired, but the port will still receive a 50% discount in usage fees. The Ports of Masan and Ulsan, which applied for an 80% discount, received a 50% discount from July 1st, 2002, in order to lessen the burden on companies.