The 7th anniversary of BPA foundation, Time to voyage to a leading port in the world

Busan Port Authority (BPA), the first PA in Korea, which was established to develop Busan Port into a hub port in North East Asia, celebrated the 7th anniversary of its foundation on January 16.
BPA, which has conducted active and steady marketing activities, stood second in trade volume increases among 5 major container ports in the world last year, maintaining its status as the 5th largest port.

And when major ports in the world suffered from drops in their trade volumes due to the global economic recession, Busan Port experienced a relatively modest cut in its trade volume, an 11% decrease, which is the second least among major ports. BPA has built such milestones as New Port Development, North Port Redevelopment, investments in foreign ports and more, laying groundwork for further development.

Busan Port handled the most trade volumes last year since it was opened, 14.18 million TEU, an 18% increase compared with that of 2009, maintaining its status as the 5th largest container port amid fierce competition with ports in North East Asia.

It is said that the achievement was possible thanks to it having the most active marketing activities among the major ports and swift and flexible incentives such as the grace period for port fees, exemption of port fees for large-sized ships and other benefits to help overcome the global economic recession. <Korea Shipping Gazette>