Incheon Port Authority Strengthens Bulk Cargo Attraction Activities... "Revitalizing Incheon Inner and North Ports"

Incheon Port Authority (IPA) announced on the 12th that it will strengthen efforts to attract bulk cargo (cargo not transported by container) to revitalize Incheon Inner Port and North Port, which are experiencing a decline in cargo volume.

Since the second half of last year, IPA has visited stevedores at Inner Port and North Port to support activities aimed at generating new cargo, such as expanding storage yards and relocating military posts within the docks. Starting this year, IPA plans to collaborate with stevedores to conduct joint marketing for attracting new cargo.

First, to revitalize Incheon Inner Port, IPA decided to attract more than 120,000 transshipment vehicles for export in cooperation with Inner Port operators. Inner Port has established its position as an automobile export-import port by attracting about 100,000 transshipment vehicles last year. To further activate this, IPA will expand marketing targeting domestic and international car carriers starting this month.

Additionally, IPA plans to create an additional 39,000㎡ of idle land within Inner Port as a vehicle storage yard to establish a foundation for cargo attraction.

Scenery of Incheon Inner Port. Provided by Incheon Port Authority

To revitalize Incheon North Port, IPA will focus all efforts on attracting special cargo such as steel raw materials. Early this year, some facilities (about 3,000㎡) within North Port docks were converted into storage yards, and IPA will gradually expand storage yards necessary for cargo attraction and promote modernization projects for handling equipment.

Along with this, IPA is reviewing the introduction of incentives for attracting new cargo proposed by bulk cargo stevedores and plans to prepare support measures within the year to discuss with the industry.

IPA took measures as the bulk cargo volume at Incheon Inner Port and North Port has decreased by an average of 4.3% annually over the past four years due to the relocation of metropolitan manufacturing companies to provinces and the container transport of bulk cargo.

In the case of North Port, 5.49 million tons of bulk cargo were handled last year, which is a 15.5% decrease compared to 2023. Inner Port handled 14.22 million tons last year, supported by Jeju Samdasoo and global transshipment vehicle attraction, but the cargo volume decreased by 3.1% compared to 2023.

Kim Sang-gi, IPA’s Chief Operating Officer, said, "Despite the continuous decline in bulk cargo volume at Incheon Port and the uncertainty of the global economic environment, we will do our best to prepare concrete and feasible plans to revitalize the docks."

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