Busan Port Authority Achieves 19 Consecutive Years of Profitability

Net Profit of 42.1 Billion KRW in 2022

Busan Port Authority (BPA) recorded a net profit of 42.1 billion KRW for the fiscal year 2022, achieving 19 consecutive years of profitability since its establishment.

Last year, revenue totaled 346.8 billion KRW, consisting of 198.7 billion KRW from rental fees and 137.5 billion KRW from port facility usage fees, while expenses amounted to 304.7 billion KRW.

Despite a decrease in cargo volume due to the impact of COVID-19, the surplus was mainly attributed to various reductions in operating expenses resulting from the employees' efforts to cut the budget. In fact, selling and administrative expenses last year were 44.5 billion KRW, a 14.4% (7.5 billion KRW) decrease compared to the previous year.

Busan Port Authority.

Based on its business performance, BPA decided to pay dividends of 18.5 billion KRW (dividend payout ratio of 45.9%) for the fiscal year 2022, marking the 17th consecutive year of dividend payments.

With this, the cumulative dividend amount reached 333.3 billion KRW, faithfully fulfilling the social role expected by the government and the public.

Kang Jun-seok, President of BPA, stated, “We were able to achieve 19 consecutive years of profitable management based on the trust of the people using Busan Port. All employees will work even harder to successfully complete the ongoing projects and further strengthen the status of Busan Port as a global leading port.”

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