BPA in the black for 11 consecutive years since its founding in 2004

"last Year's Net Income Records the Best Management Performance?107.7 Billion Won?Since Its Establishment"

Busan Port Authority (BPA, President Lim Ki-tack) has operated in the black for 11 consecutive years since its establishment in 2004 and netted a profit of 107.7 billion won last year.

The net income in 2014 was 107.7 billion won, recording 348.6 billion won in total revenue and 240.9 billion won in expenses. Compared to that of 2013, revenue (279.8 billion won) increased 24.60%.

Such performance has a significant meaning for Busan North Port. The port lowered rental fees for operators because it is going through management difficulties triggered by the transfer of container shipping from Busan North Port to Busan New Port.

Last year's revenue was 62.5 billion won thanks to the BNPR project: 11.5 billion won for port facility usage fees, and 8.7 billion won for sales of stone from Busan New Port Yokmang Mountain.
As of last year, the total assets of BPA were 5.4439 trillion won, a 4.31% increase (5.2189 trillion won) compared to that of 2013.

BPA President Lim Ki-tack said, "BPA's surplus management is a result of debt management and various efforts to create new profits. We will continue our efforts in the future." 
 

< Korea Shipping Gazette >