BPA-Juseong C&A Signs Letter of Intent for Joint New Logistics Business in LA and LB Areas

Securing Logistics Centers in the U.S.... Providing Stable Logistics Services for Companies

Busan Port Authority (BPA) and Juseong CN Air, a specialized international freight forwarding company in the Americas region led by CEO Park Jin-su, signed a letter of intent on the 13th in Los Angeles, USA, to jointly promote new logistics business in the LA·LB area (Los Angeles·Long Beach).

Busan Port Authority and Juseong CN Air in the Americas Sign Letter of Intent for Cooperation.

Established in 2008, Juseong CN Air engages in sea and air cargo forwarding services and is a leading domestic international freight forwarder with particular strengths in the Americas region.

Both parties plan to discuss business commercialization plans, including market research to secure new logistics platforms in the LA·LB port hinterland area in the United States and the establishment of business models to support the entry of domestic small and medium-sized export companies into the U.S. market.

The United States, the second largest export destination country for South Korea and the second largest trading partner for Busan Port, is the world's number one consumer market, where domestic and international export and logistics companies actively enter, resulting in high demand for logistics facilities.

Among them, the LA·LB ports are major U.S. ports that handle the largest volume of containers from Korea, accounting for 33.7% of all Korean-origin cargo handled in the U.S. In particular, the LB port handled 195,300 TEU of Korean-origin cargo last year, achieving first place in 2023. Additionally, cargo transportation across the U.S. is possible via rail and truck, making it a crucial hub for exports to the U.S.

As gateway ports for trade with Asia, the LA·LB ports have experienced logistics difficulties due to container terminal operation overload and port congestion, causing domestic export companies and Korean companies operating local factories in the U.S. to suffer from a shortage of logistics warehouses and increased rental fees. Therefore, BPA is striving to secure logistics centers at the LA·LB ports to alleviate cost burdens for Korean companies and serve as a logistics hub.

BPA President Kang Jun-seok stated, “Securing logistics centers in the LA·LB port hinterland and establishing inland transportation networks in the U.S. with Juseong CN Air, which possesses expertise and competitiveness in international freight forwarding, is highly significant in expanding overseas networks linked to Busan Port,” adding, “We expect to provide a more stable logistics supply chain to domestic small and medium-sized enterprises entering the U.S. market.”