KOTRA Explores Investment Plans for Busan New Port with Danish, German, Japanese, and French Logistics Companies

Meeting with Overseas Companies, Busan Port Authority, Busan-Jinhae Free Economic Zone Authority, etc. on the 23rd
Expanding Investment Momentum for Northeast Asia Airport-Port Logistics Hub Centered on Busan New Port

KOTRA announced that it held a global logistics company investment attraction meeting on the 23rd at the Westin Chosun in Sogong-dong, Jung-gu, Seoul, together with Busan Port Authority and Busan-Jinhae Free Economic Zone Authority.

The meeting was attended by nine companies including the world's largest shipping company Denmark's AP Moller-Maersk, global logistics companies Germany's DHL Supply Chain and DB Schenker, and Japan's Nippon Express.

Korean institutions and global logistics companies discussed investment opportunities in Korean logistics. The discussion focused on Korea's potential to serve as a Northeast Asia logistics hub by utilizing Busan Port and others.

Presentations were given on the Korea Maritime Institute's "Plan for Establishing a Northeast Asia Airport and Port Logistics Hub," Busan Port Authority's "Strengths of Busan Port and New Investment Opportunities," and Busan-Jinhae Free Economic Zone Authority's "Investment Incentives and Support Measures."

Kim Tae-hyung, CEO of KOTRA Invest Korea (5th from the left in the front row), poses for a commemorative photo with attendees of the "Global Logistics Companies Investment Attraction Meeting."
[Photo by KOTRA]

Busan Port combines the existing North Port and New Port to hold the world's 7th largest container cargo handling capacity. It ranks 2nd globally in transshipment volume. In particular, Busan New Port is equipped with advanced facilities and automated systems. It has a depth of 17 to 23 meters, allowing berthing of ultra-large vessels. As of this year, 26 berths are in operation, with plans to increase to 60 by 2040.

Global logistics companies showed the greatest interest in the first phase of the container hinterland on the west side of Busan New Port and the second phase of the Ungdong hinterland during the meeting. Bidding is scheduled for this year. They also discussed integrated airport-port multimodal transport following the construction of the new Gadeokdo Airport.

Dirk Lukat, CEO of DB Schenker Korea and Chairman of the European Chamber of Commerce in Korea, said, "The Korean market is a logistics hub in East Asia and one of the important investment destinations," adding, "We plan to open a 40,000m² advanced logistics center next month in the Incheon Free Economic Zone."

Adam Palmer, Head of East Asia Sales and CEO of AP Moller-Maersk Korea, stated, "The Maersk Group will provide integrated logistics solution services to Asian consumers," and "We will continue business development and investment in Korea, especially in the Busan area."

Kim Tae-hyung, CEO of KOTRA Invest Korea, said, "We planned this meeting to promote investment attraction momentum after recognizing the recent increase in global logistics companies' business in Korea," adding, "We will strive to attract leading global companies so that Korea can leap forward as a Northeast Asia logistics hub centered on the Busan region."

Meanwhile, KOTRA requested the CEOs of global logistics companies' Korean branches to support the bid for the 2030 Busan World Expo on the same day.

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