Busan-Jinhae Free Economic Zone Authority Launches Coffee Industry Support Strategy
Kickoff Meeting for Coffee Industry Ecosystem TF,
Building Collaboration Among Industry, Academia, and Research
Commissioner Park Sungho: "94% Import Gateway, Korea's Largest Coffee Hub"
'Busanjinhae Coffee Port' is on the rise. A dynamic project is underway to transform the Busan-Jinhae Free Economic Zone into the second 'Mocha Port,' the birthplace of the coffee industry.
The Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sungho) announced on the 11th that it has established a comprehensive support strategy to revitalize the coffee industry centered around Jinhae New Port at Busan Port and is moving forward in earnest.
This strategy highlights the fact that Jinhae New Port at Busan Port serves as the main gateway for 94% of Korea's coffee imports, focusing on laying the foundation for the domestic coffee industry's growth and connecting it to the global market.
To effectively implement this strategy, the Authority is taking action. It plans to operate the 'BJFEZ Coffee Industry Revitalization Strategy TF' by appointing industry experts as committee members to reflect the voices from the coffee industry field.
On the 11th, prior to the official operation of the TF, a kickoff meeting was held in the Authority's main conference room. Commissioner Park Sungho and nine TF committee members attended the meeting. They presented plans to boost the coffee industry in each sector and discussed administrative support measures.
The Authority plans to promote regulatory improvements for the continuous growth of the coffee industry. To this end, it will prepare measures such as ▲ simplifying procedures for importing, storing, and distributing green coffee beans ▲ supporting the entry of coffee manufacturing and processing companies into the port hinterland ▲ proposing the application of customs laws for bonded factories to product and raw material taxation in free trade zones.
To strengthen the logistics and distribution base, the Authority will support the establishment of cold storage facilities and cold chain systems, and plans to operate joint storage warehouses to reduce logistics costs.
In addition, tailored consulting will be provided to enhance the competitiveness of companies related to the coffee industry. For coffee manufacturing and processing companies, the Authority will support ▲ market entry consulting ▲ export promotion ▲ overseas market research and global trend analysis. It will also actively support overseas marketing and market development to strengthen companies' export competitiveness.
Furthermore, to increase the sustainability of the coffee industry, the Authority will strengthen domestic and international cooperation systems. Plans include ▲ researching best practices in overseas ports and coffee logistics ▲ forming and operating an industry-academia-research-government TF related to the coffee industry ▲ hosting expert forums and seminars.
Commissioner Park Sungho emphasized, "We will leverage the strength of Jinhae New Port at Busan Port as the largest coffee import hub in Korea to secure growth engines linked to the global coffee industry," adding, "Through regulatory improvements, company support, and the establishment of cooperation systems, we will develop the Busan-Jinhae Free Economic Zone into the center of the Asian coffee industry."
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