Busan Port Authority Holds Strategic Meeting with Overseas Representatives to Address Global Supply Chain Challenges

Busan Port Authority (BPA) held a strategic meeting on the 23rd to respond to the rapidly changing global supply chain and to strengthen the external competitiveness of Busan Port.

Busan Port Authority held a global supply chain response strategy meeting with overseas representative office staff on the 23rd. Photo by Busan Port Authority

About 20 executives and employees of the Global Business Division, including overseas representative offices dispatched to five countries?Netherlands, United States, Indonesia, China, and Japan?attended the meeting. They analyzed the host countries' response status and the impact on Busan Port following the inauguration of the second Trump administration in the US in January next year, focusing on ways to increase cargo volume at Busan Port.

The representative offices in Japan and China, which are most closely connected to Busan Port, anticipated that early shipments would become active around the inauguration of the Trump administration next year, leading to an increase in cargo volume at Busan Port. However, they expressed concerns that in the mid- to long-term, strengthened protectionism could slow trade, resulting in decreased cargo volume and falling freight rates. They emphasized the need to closely monitor these changes and respond proactively.

The representative offices in the Netherlands, the United States, and Indonesia, which operate overseas logistics centers, are closely watching the investment trends of global companies in port logistics infrastructure, the prolonged Red Sea situation, and strikes in the US West Coast, all of which are rapidly changing logistics environments. They also proposed various new business opportunities to support exports by Korean companies.

BPA President Kang Jun-seok stated, “Although the internal and external conditions surrounding Busan Port remain challenging, we will proactively respond to the reorganization of the global supply chain and further strengthen our global competitiveness as the world’s second-largest transshipment port.”