BPA Continues Operation of 'Busanhang New Port Hinterland Activation System Improvement TF'

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Busan Port Authority (BPA, President Kang Jun-seok) decided to continue operating the "Busan Port New Port Hinterland Additional Logistics Activation and Institutional Improvement Task Force" (hereinafter referred to as the Institutional Improvement TF), which has been operating since July 2022, in 2023 as well, and held the first meeting on February 1.

BPA held its first meeting on February 1 and decided to continue operating the Task Force for Institutional Improvement to Revitalize the Busan New Port Hinterland this year as well.

The Institutional Improvement TF aims to strengthen competitiveness by pre-identifying and improving regulatory factors that restrict the free business activities of companies in the hinterland complex, promoting additional logistics activities, and increasing added value.

It is composed of a total of 12 members, including representatives of companies in the hinterland complex, officials from Busan Customs, Busan-Jinhae Free Economic Zone Authority, and BPA staff, and has held a total of four meetings since July 2022.

This year, regular meetings will be held on the last Wednesday of every month to identify unreasonable regulations related to the operation of the hinterland complex and to further discuss directions for institutional improvement.

A BPA official said, "Since the formation of the TF last year, we have communicated by exchanging various opinions with companies in the hinterland complex and related organizations," adding, "This year as well, through the Institutional Improvement TF, we will listen to the requests of companies in the hinterland complex and actively work to improve regulations that hinder their business activities to revitalize the hinterland complex."

BPA has been developing, operating, and managing hinterland logistics complexes linked with port infrastructure together with the government since 2004 to foster Busan Port as a global port logistics hub.

Currently, at the New Port, 30 companies are located in the Buk 'Con' hinterland complex, and 39 companies in the Ungdong hinterland complex, generating approximately 2 million TEU of cargo and sales exceeding 590 billion KRW as of 2022.