[2020 National Audit] Eo Gi-gu "Unpaid Claims of 4 Major Port Authorities Increased 3.4 Times in the Last 5 Years"

[Asia Economy Reporter Lee Kwang-ho] Last year, the amount of unpaid claims at the four major port corporations?Busan, Incheon, Ulsan, and Yeosu Gwangyang Port Authority?reached 24.733 billion KRW.

On the 20th, at the National Assembly's audit of the four major port corporations held at the National Assembly, Oh Gi-gu, a member of the Democratic Party belonging to the National Assembly's Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee, pointed out, "The amount of unpaid claims at the four port corporations, which was 7.2 billion KRW in 2015, increased 3.4 times over five years to 24.733 billion KRW last year."

Each port corporation collects usage fees from users of port facilities in accordance with Article 42 of the Port Act.

In particular, Yeosu Gwangyang Port Authority's unpaid claims, which were only 214 million KRW in 2015, increased 60.7 times to 12.983 billion KRW as of the end of last year, accounting for 52.5% of the total unpaid claims of the four major port corporations.

Looking at the overdue period, long-term unpaid claims over one year increased 2.4 times from 5.131 billion KRW in 2015 to 12.287 billion KRW last year.

Representative Oh stated, "Although the shipping, logistics, and warehousing industries are struggling due to economic downturn and COVID-19, the excessive increase in long-term unpaid claims ultimately leads to the deterioration of the financial structure of the port corporations. In particular, since Yeosu Gwangyang Port Authority accounts for more than 50% of the total unpaid claims, it is necessary to devise measures to reduce the scale of unpaid claims."

This content was produced with the assistance of AI translation services.