ISAAK begins countdown for restructuring

The International Shipping Agencies Association of Korea (ISAAK) will soon announce the successor to take over operational management of the association.

In a general assembly scheduled sometime in February, Mr. Sang-gon Ma will step down alongside Mr. Kyu-su Han, executive director of ISAAK. The association has already finished selecting their replacements.

The board of directors of the association already decided to cut personnel in the Busan branch and to hire internally for the place of executive director, considering the tough situation for its member companies.

Along with this, the 2003 budget was reduced to 260 million won, 60 million won less than in 2002.

Currently, a woman without the assistance of a director is managing the Busan branch of ISAAK. The director of the Busan branch will be taken by the Busan branch manager of ISAAK president’s company to elect this February.