KOTRA and Busan Port Authority Join Hands to Support Export Companies' Overseas Logistics

[Asia Economy Reporter Suyeon Woo] On the 14th, KOTRA signed a Memorandum of Understanding (MOU) with Busan Port Authority at its headquarters in Yeomgok-dong, Seoul, to support overseas base logistics services for small and medium-sized enterprises (SMEs) and mid-sized companies.

In response to the rapid changes in the global supply chain after COVID-19, securing a stable overseas logistics foundation has become urgent for export companies. In particular, to resolve delivery issues caused by logistics difficulties such as recent ship shortages and soaring logistics costs, the demand from companies to secure safety stock locally overseas is gradually increasing.

KOTRA decided to cooperate with Busan Port Authority to alleviate these difficulties faced by domestic companies. Through this MOU, Busan Port Authority will establish logistics centers at overseas bases such as Rotterdam in the Netherlands, Barcelona in Spain, and Java in Indonesia, and KOTRA will designate these as 'Overseas Joint Logistics Centers' to address logistics challenges faced by Korean companies.

The Overseas Joint Logistics Centers are projects where SMEs and mid-sized companies, which find it difficult to independently establish logistics centers locally overseas, jointly use warehouses of KOTRA’s local partner logistics companies, providing customized local logistics services.

This MOU is expected to create synergy with KOTRA’s 'Overseas Joint Logistics Center' project, which operates in 119 regions across 78 countries. To this end, additional services such as ▲real-time cargo monitoring service ▲global logistics information provision ▲export marketing support linked to logistics centers will be promoted for companies using the logistics centers.

Yoo Jung-yeol, President of KOTRA, said, "This agreement has established a stable logistics foundation for export companies to expand overseas," adding, "We will continue to promote more diverse logistics support projects to respond to supply chain fluctuations and logistics difficulties."

On the 14th, KOTRA signed a Memorandum of Understanding (MOU) with Busan Port Authority at its headquarters in Yeomgok-dong, Seoul, to support overseas logistics services for small and medium-sized enterprises. Yoo Jung-yeol, President of KOTRA (left), is taking a commemorative photo with Kang Joon-seok, President of Busan Port Authority, after the signing ceremony. Photo by KOTRA

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