Gu Ja-yeol, Chairman of the Korea Federation of Textile Industries, Visits Export-Import Logistics Sites in Busan and Gyeongnam

Visiting Busan New Port and Others on a Two-Day Schedule

[Image source=Yonhap News]

[Asia Economy Reporter Jin-ho Kim] Koo Ja-yeol, Chairman of the Korea International Trade Association (KITA), visited the Busan and Gyeongnam regions for a two-day schedule starting on the 14th to inspect export-import logistics support sites and expressed a strong commitment to resolving difficulties faced by companies.

Chairman Koo's visit to export-import logistics sites is his third, following visits to Korean Air Cargo Terminal (Incheon) in January and POSCO Cargo Terminal (Pohang) in February.

At Busan New Port, where he met with Park Ki-hoon, CEO of SM Line, Chairman Koo said, "Although the container freight index has shown some stability this year, uncertainties in export-import logistics are increasing again due to the Ukraine crisis and the Shanghai lockdown in China. Therefore, I ask for continuous support for our companies going forward."

Since the global logistics crisis following the COVID-19 pandemic made it difficult for Korean companies to secure shipping space, KITA has been implementing the "Emergency Export Logistics Support Project" in cooperation with domestic shipping companies, airlines, and large corporations since the second half of last year. After signing a business agreement with SM Line in June last year, they have supported shipping space for about 200 companies over 25 occasions through this year.

Park Cheon-il, CEO of Korea Airport Logistics Terminal (CALT), who accompanied the site visit, said, "Recently, export companies are facing significant difficulties due to a shortage of vessels," adding, "Going forward, it is necessary for related ministries such as the Ministry of Oceans and Fisheries to pay attention so that new vessels can be supplied stably regardless of cargo volume."

Following the visit to Busan New Port, Chairman Koo visited Samsung Heavy Industries Geoje Shipyard to inspect the new shipbuilding site and conveyed the industry's opinions, urging efforts for stable vessel supply.

On the 15th, Chairman Koo plans to meet with export companies in the Busan and Gyeongnam regions to listen to their difficulties in exports and business management and discuss solutions together.

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