Port of Busan unveils plans to increase volume to 32 million TEU

Busan to increase TEU with digital technologies

The Busan Port Authority will use digital technologies to increase its TEU volume to 32 million by 2030 and recover from the effects of the COVID-19 pandemic.

The Authority said it will look to open up “a new era” of container port operations with its Mid to Long-Term Comprehensive Development Plan, which it said contains “new visions” which will prepare it for the post-pandemic era, as well as the Fourth Industrial Revolution.

It said the goal of the Mid to Long-Term Comprehensive Development Plan is to make Busan a “Global hub port that connects the world”, and make it a “progressive and future-oriented global hub port”.

The volume goal of 32 million TEU would be a 40% jump from this year’s goal of 22.6 million TEU.

The Authority has set four strategic goals as part of its plans:

These include strengthening global digital competitiveness, leading what it calls a Busan-style New Deal, securing a sustainable future growth engine and advancing customer centered management. 

All these goals will require various levels of digitalisation and collaboration with national and global supply chain stakeholders.

Nam Ki-chan, CEO of the Busan Port Authority, stated, “The Authority established the 2030 Comprehensive Development Plan for the next five years of the company. “We will faithfully implement detailed strategic tasks to achieve the 2030 goal of 32 million TEU in total cargo volume and strengthen Busan Port’s status as a global transshipment port.  

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