Busan Port Authority Named Autonomous Public Enterprise

Busan Port Authority has been designated by South Korea’s government as an autonomous public enterprise.

Consequently, BPA gains autonomy in management to organize manpower and compile a budget. However, BPA also has an obligation to achieve the goal of processing 9.647 million 20-foot-equivalent units of transshipment cargo, the port authority said.

Last year, the port handled 17.02 million TEUs, up 5 percent year-over-year. Transshipment represents about 47 percent of Busan’s annual throughput, and BPA expects it to represent more than half of throughput in coming years. The port is a key transshipment center for trans-Pacific trade.