BPA Revises Busan Port Hinterland Management Regulations... Aiming to Support High-Value Logistics Activities and Attract Excellent Companies

Busan Port Authority.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan Port Authority (BPA) has partially revised the "Busan Port Type 1 Port Hinterland Management Regulations" to strengthen the competitiveness of the Busan New Port hinterland complex.

Until now, logistics companies located in the Busan New Port hinterland complex had to go through complicated approval procedures from BPA and customs to carry out activities such as assembly and processing for creating high added value.

In addition, there were many opinions that the current criteria for selecting resident companies were insufficient to select excellent companies that create high added value.

Accordingly, since July, BPA has regularly held meetings to improve the Busan New Port hinterland complex system and actively collected opinions from resident companies and external experts.

According to the revised regulations, when logistics companies in the hinterland complex add manufacturing industries such as assembly and processing, the BPA approval procedure will be simplified.

When selecting new resident companies, up to 3 points will be awarded as additional points to multinational logistics companies, and up to 3 points will be deducted if a person related to a company subject to contract termination participates as a transferee of a hinterland logistics company, among other regulatory revisions.

Also, BPA separately established criteria for operator selection and performance evaluation so that the new type of "Smart Joint Logistics Center," planned to be created in the Busan New Port hinterland complex, can achieve joint logistics functions for small and medium-sized shippers.

A BPA official said, "With this revision of the regulations, we will support resident companies planning to add high value-added logistics activities in the New Port hinterland complex and attract excellent logistics companies with global competitiveness to strengthen Busan Port's role as a Northeast Asia logistics hub."

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