Busan Port Authority (BPA) and PSA International (PSA) signed a Memorandum of Understanding (MOU) on 7 December 2012 to facilitate cooperation towards a long term and strategic partnership between the two organisations. Through this MOU, BPA and PSA recognise the opportunities to work more closely together to realise mutual benefits in the Port of Busan.
The MOU, signed by Mr Lim Ki Tack, President of BPA, and Mr Tan Chong Meng, Group CEO of PSA, in Busan, South Korea, will strengthen the bilateral exchange of information and ideas in port development, management and operations.
As a leading global port group, PSA will contribute its vast experience and expertise from managing and developing port projects in Asia, Europe and the Americas towards this partnership.
Mr Lim Ki Tack, President of BPA, described the cooperation between Busan Port and PSA International as bearing special significance and said, “I believe that this MOU will contribute to further economic growth not only between our two ports but also between Korea and Singapore.”
Mr Tan Chong Meng, Group CEO of PSA, commented, “PSA is honoured to be given this opportunity to strengthen its partnership with the Busan Port Authority and we are pleased to be able to play a part in the growth and development of Busan Port.”
PSA currently operates Pusan Newport International Terminal (PNIT), a joint venture between PSA and Hanjin Transportation Corporation, in Busan New Port.
Background
About PSA International
PSA International is one of the leading global port groups. With its flagship operations in PSA Singapore Terminals and PSA Antwerp, PSA participates in 29 port projects in 17 countries across Asia, Europe and the Americas. Employing the finest talents in the industry, PSA delivers reliable and best-in-class service to its customers and develops win-win relationships with its partners. As the port operator of choice in the world’s gateway hubs, PSA is “The World’s Port of Call”. PSA International has been voted “Best Global Container Terminal Operating Company” at the Asian Freight & Supply Chain Awards for seven years since 2005. Please visit us at www.internationalpsa.com.
About Busan Port Authority
The Busan Port Authority was founded in January 2004 to develop Busan Port into a leading world-class port. Today, Busan Port is the world’s fifth ranked container port and the largest transshipment port in Northeast Asia. Located on a main trunk route, Busan Port handles more than 16 million TEU annually and is positioned as a super hub port through dynamic exchange with 500 ports in 100 countries. The Busan Port offers remarkable depth to accommodate oversized vessels with over 10,000 TEU capacity, and provides top-notch service to customers with state-of-the-art facilities, and skilled labor force. In addition, the BPA has established an excellent feeder network connecting ports in China, Japan, and Russia, and implements transshipment incentives to attract greater volumes of cargo.