Yeosu Gwangyang Port Authority-Korea Iron & Steel Association, MOU to Expand Domestic Steel Application

Priority Supply of Domestic Steel and Cooperation in Various Fields

The Korea Iron & Steel Association announced on the 8th that it signed a business agreement at the headquarters of Yeosu Gwangyang Port Authority to cooperate in the construction of an automated terminal at Gwangyang Port and to promote the development of the domestic steel industry.

The two organizations pursued this agreement to expand the application of domestically produced steel in the unmanned automated port construction project at Gwangyang Port. Yeosu Gwangyang Port Authority and the Korea Iron & Steel Association plan to actively promote mutual cooperation in areas such as ▲expanding the use of domestic steel for localization in port cargo handling ▲prioritizing the supply of excellent domestic steel in port cargo handling ▲supporting quality inspection of steel materials brought to port sites ▲expanding education for mutual cooperation between the two organizations.

The Gwangyang Port unmanned automated port construction project involves an investment of 691.5 billion KRW to build the 3-2 phase container terminal at Gwangyang Port, with completion planned for 2027.

On the 8th, Park Seong-hyun, President of Yeosu Gwangyang Port Authority, and Byeon Young-man, Executive Vice President of the Korea Iron & Steel Association, are taking a commemorative photo after signing a business agreement.
[Photo by Korea Iron & Steel Association]

Park Seong-hyun, President of Yeosu Gwangyang Port Authority, said, “This business agreement is linked to government policy and aims to establish a sustainable growth foundation for the domestic port technology industry through the construction of an automated terminal at Gwangyang Port.”

Byun Young-man, Executive Vice President of the Korea Iron & Steel Association, said, “Both the steel industry and the port industry are national infrastructure projects, and cooperation between the two organizations is expected to play a significant role in national development,” adding, “We hope that the signing of the MOU with Yeosu Gwangyang Port Authority will further expand the application of domestic steel in the port sector.”

The Korea Iron & Steel Association is promoting the 'K-STEEL Campaign' to expand the domestic use of Korean steel products. Yeosu Gwangyang Port Authority is also reviewing the use of domestic materials to localize materials and parts for the Gwangyang Port container terminal and to foster related industries as part of the government's 'Smart Port Technology Industry Promotion and Market Expansion Strategy.' Accordingly, the two organizations signed this business agreement.

The Korea Iron & Steel Association expects that applying domestic steel to the manufacture of domestic port cranes, which has so far relied on imports due to price competitiveness, will greatly contribute to the growth of domestic port technology and the activation of domestic steel distribution.

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