BPA accomplished the outstanding feat of marking surplus for three consecutive years

BPA celebrated the 3rd anniversary of its foundation on Jan 1, refreshing its orientation to promoting Busan as the logistic hub of Northeast Asia.

It is said that though it is the first port authority in Korea, BPA has placed itself as a main player in operating Busan Port, maintaining black-ink balances.

The most prominent feat BPA has achieved since the establishment would be that it put the management on the right track to execute its orientation in such a short period of time.

BPA marked 8 billion won surplus in 2004 when it stated its operation, 10.4 billion won in 2005 and 6.5 billion won in 2006.

It contributed to establishing a comprehensive logistics information network called BPA-NET to boost port productiveness and took over the first and second phase of New Port construction.

It has tried to broaden its business territories by revising Port Authority Law and incorporating water area facilities into its management while contributing to removing value-added taxes(VAT) on transportation fee and to modernizing institutions.

Amid harsh business environment it employed aggressive marketing approach to see cargo volume increase: 11.49 million TEU in 2004(10.4% up), 11.84 million TEU in 2005 (3.1% up) and 12.03 million TEU in 2006(1.6% up). It also engaged in establishing network with such ports as Rotterdam, Shanghai and LA by exchanging memorandums.

In addition it extended transshipment incentive to cover small and medium shipping companies with the aim of increasing the quantity of goods transported and choose-companies who will operate 2-1 and 2-2 phase ports in New Port and companies to move into the port logistics section to early vitalize New Port.

It embarked on massive restructuring project for North Port which is necessary to readjust its function due to the development of New Port.