Chungnam Province Processes Annual 16 Billion KRW Local Trade Port Usage Fees as Revenue

Chungnam Province will be able to process local management trade port usage fees worth 16 billion KRW annually as local revenue.

On the 11th, Chungnam Province announced that the Ministry of Oceans and Fisheries recently decided and notified the transfer of port facility usage fees to local governments.

Previously, following the 2021 amendment of the Port Act, Chungnam Province received the transfer of 41 national tasks including facility development and operation of locally managed trade ports such as Boryeong Port and Taean Port, as well as coastal ports like Daecheon Port and Maryangjin Port.

However, the port facility usage fees for locally managed trade ports were not transferred, so until this year, the fees were processed as national revenue.

From now on, port facility usage fees will be transferred to local governments, allowing Chungnam Province to collect the fees and process them as local taxes starting next year.

Port facility usage fees include ship entry and exit fees, berthing fees, anchorage fees, cargo entry fees, exclusive facility usage fees, and water area occupancy fees. The total amount of fees collected in Chungnam reaches an average of 16.3 billion KRW annually.

No Tae-hyun, Director of the Marine and Fisheries Bureau of Chungnam Province, stated, “The funds secured from the usage fees will be invested in future port development within the jurisdiction to revitalize the local economy.”

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