SEOUL: Port Distripark’s foreign investment hit KRW118.3 billion (USD109 million) in the decade since it opened in Busan.
Busan Port Authority (BPA) said that as of 2014, a total of 90 foreign companies have become tenants in the distripark, adding that it has succeeded in attracting such investments despite fierce competition for cargo attraction among ports as cargo volumes are shrinking globally.
Cargo volume handled at the Busan New Port Distripark has also drastically increased; its 2014 volume went up 40% year on year to 1.28 million teu.
BPA president Lim Ki-tack said, “We will do our best to establish a specialised industry and secure new business models in order to realise high-added value at the distripark by attracting diverse and excellent enterprises, a core strategy to vitalise Busan New Port Distripark. In addition, we will enhance administration support services for existing tenant companies.”
