7.97 Billion Won in Incentives to Boost Pohang Yeongilman Port Cargo Volume... Full Commitment to Port Revitalization

On October 1, the city of Pohang decided to provide a total of 797 million won in support to 52 companies, including shipping lines, cargo owners, and international freight forwarders, at the '2025 2nd Pohang Yeongilman Port Competitiveness Enhancement Project Review Committee' meeting.

According to the resolution on the 'Incentive Support Plan Based on Yeongilman Port Usage Performance in the First Half of the Year' made that day, a total of 797 million won will be provided to 52 companies: 398 million won in usage encouragement incentives to 46 cargo owner companies, 336 million won in route extension support to 2 shipping lines, and 63 million won in volume incentives to 4 international freight forwarders.

This measure is intended to encourage the use of Yeongilman Port and support the activation of the port. The Yeongilman Port incentive is provided differentially according to actual usage performance. Applications can be submitted by July 31 for first-half performance, and by January 31 of the following year for second-half performance.

Pohang City has been developing countermeasures to expand the use of Yeongilman Port in response to a complex crisis, including recent global economic uncertainty, U.S. steel tariffs, and a downturn in the logistics market.

Son Jeongho, Director of the Maritime Affairs and Fisheries Bureau, said, "We will do our utmost to revitalize the Yeongilman Port container terminal, including attracting global shipping lines and opening new routes, in order to overcome the crisis facing the region's key industries and to expand the use of Yeongilman Port by major local cargo companies."

Pohang Yeongilman Port.

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