Martial Arts, SME Export Container 'Temporary Storage Support Project' Implemented

[Asia Economy Reporter Jin-ho Kim] The Korea International Trade Association (KITA) announced that, in collaboration with Korea Urban Airport, it will implement the "Temporary Storage Support Project for Export Containers of Small and Medium Enterprises (SMEs)" starting from the 26th.

This support project was established to provide affordable and stable temporary storage space for export cargo when our small and medium export companies using Busan New Port need a place to temporarily store their goods.

Busan New Port is currently facing a saturation problem in container yard space due to the prolonged global logistics crisis. As a result, terminal operators have restricted the allowed period for bringing export cargo into the yard to "from 3 days before the vessel's arrival date" since July last year.

Previously, export cargo containers were assigned in advance, loaded with cargo, and shipping documents were submitted to the shipping company before immediately bringing the containers into the terminal yard. However, due to yard saturation and the resulting restrictions on entry dates, as well as frequent delays in vessel arrivals pushing back possible entry dates, export companies and logistics providers have been struggling to find places to temporarily store their cargo.

In response, KITA, in cooperation with Urban Airport, has prepared a dedicated cargo storage space for SMEs within the Busan New Port Free Trade Zone and decided to offer it to small and medium export companies at a more affordable cost.

Lee Jun-bong, Head of KITA's Logistics Service Office, said, "With the lifting of the Shanghai lockdown, port and yard congestion problems are expected to worsen," adding, "We hope this support project will help reduce storage costs for our export companies and also assist in the timely shipment of cargo."

For more details about the support project, inquiries can be made through the Korea International Trade Association website and the KITA Cargo Reservation Desk.