Busan Port Authority Holds Meeting in LA to Address Global Supply Chain Restructuring

Listening to Local Companies' Logistics Challenges and Strengthening Support
Expanding Fulfillment Services Amid Slowdown at LA and LB Ports

Busan Port Authority (BPA), led by President Song Sanggeun, held a meeting in the United States to respond to the restructuring of global supply chains and to support the enhancement of Korean companies' local logistics competitiveness.

Busan Port Authority holds a meeting in LA to respond to the global supply chain restructuring and takes a commemorative photo. Photo by BPA

On November 6 (local time), the authority held a meeting in Los Angeles with local export and logistics company representatives, listened to the difficulties companies are facing amid growing global logistics uncertainty, and discussed practical support measures.

The ports of Los Angeles and Long Beach (LB) serve as key logistics hubs on the U.S. West Coast, handling more than 40% of export cargo originating from Korea. However, as of September this year, the total volume of container imports into the United States decreased by 8.4% compared to the previous year, signaling a slowdown in logistics flows. In addition, the cargo storage rate at logistics centers near Los Angeles is also on the decline.

Despite these changes, Busan Port Authority has been expanding logistics support for small and medium-sized enterprises by strengthening the 'fulfillment' function of its LA/LB logistics center, which began operations in September last year.

Currently, 10 companies, including domestic small and medium-sized K-beauty enterprises, are using this service. The convenience and speed of the service have received positive feedback, leading to additional inquiries about its use.

Going forward, the authority plans to enhance logistics connectivity between Korean and U.S. ports by pursuing new development projects near the Port of Los Angeles. It also aims to establish a public-private partnership system with export-related organizations, continuously providing institutional support to help overseas companies reduce logistics costs and secure stable logistics networks.

Song Sanggeun, President of Busan Port Authority, stated, "In this turbulent period of global supply chain restructuring, it is more important than ever for the public and private sectors to work together to enhance logistics competitiveness. Busan Port Authority will do its utmost to serve as a reliable partner for Korean companies operating overseas."

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