Pyeongtaek Port to Offer 1 Billion KRW Incentive for Cargo Attraction

Pyeongtaek Port [Image source=Yonhap News]

Gyeonggi Province has finalized the incentive payment criteria for attracting cargo to Pyeongtaek Port this year.

On the 23rd, Gyeonggi Province announced that it recently held a cargo attraction incentive payment review committee meeting and decided to invest a total of 1 billion KRW to provide incentives to shipping companies and forwarders (freight forwarders handling the transportation of trade cargo) using Pyeongtaek Port based on their container cargo handling performance.

The incentive payment targets are shipping companies and forwarders handling 1,000 TEU (a unit representing the size of a standard 20-foot container) or more of cargo annually, as well as shipping companies that establish or expand regular routes with at least one weekly voyage. Incentives will be paid in December, considering the scale of cargo handling, the rate of cargo volume increase, and achievements in route establishment or expansion.

Detailed payment criteria can be checked on the Gyeonggi Pyeongtaek Port Authority website. The Gyeonggi Pyeongtaek Port Authority will start accepting applications from November.

Ko Byung-su, Director of the Logistics and Port Division of Gyeonggi Province, stated, "Although the economic slowdown and weak consumption continue despite the resumption of economic activities in China this year, we will strive to contribute to increasing cargo volume through the Pyeongtaek Port cargo attraction incentive support project."

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