Korea Iron & Steel Association Signs MOU on Material Localization with Busan Port Authority

[Asia Economy Reporter Hwang Yoon-joo] The Korea Iron & Steel Association announced on the 28th that it has signed a Memorandum of Understanding (MOU) with Busan Port Authority to promote the development of the port industry and the localization of materials.

Until now, domestic port cranes (transfer and container cranes) have mostly relied on imported products for manufacturing. However, recently, Busan Port Authority has been actively encouraging the use of domestically produced materials to localize materials and parts and foster related industries.

Since these activities by Busan Port Authority significantly contribute not only to revitalizing the regional economy but also to enhancing the mutual competitiveness of the port and steel industries, the Korea Iron & Steel Association presented a plaque of appreciation to Busan Port Authority.

Furthermore, the two organizations plan to actively cooperate in areas such as ▲expanding orders for domestically produced steel materials in the port sector ▲R&D collaboration for localization of port-related materials and parts ▲strengthening safety education for workers in national infrastructure ▲promotion of projects for localization of cargo handling equipment.

Heo Dae-young, Executive Director of the Korea Iron & Steel Association, stated, "Domestically produced steel materials are representative materials that have ensured the safety of the public based on excellent quality," and added, "We hope that the use of domestic steel materials in the port sector will expand further with the signing of the MOU with Busan Port Authority."

Meanwhile, the Korea Iron & Steel Association plans to actively promote the 'K-Steel' campaign, which widely publicizes the excellence of domestic steel materials, leveraging this business cooperation with Busan Port Authority.

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