The Busan Port Authority (BPA) – the sixth largest container port in the world – has announced Woo Ye-jong as its new CEO.
The appointment was made by the Korean Ministry of Oceans and Fisheries and Mr Woo was selected for his extensive experience in the maritime and shipping industries during his lengthy career in government.
On taking his new role, Mr Woo said: “My focus as CEO will be on strengthening the port’s competiveness by improving efficiency and keeping control of costs. It is vital that we maintain a clear strategy to ensure we retain our current position as a global container hub port.”
Mr Woo is keen to work closely with the port’s terminal operators and to reflect their ideas and opinions in BPA’s future strategy. BPA will also help relieve some of the burden currently facing its terminal operators, particularly issues that have the potential to result in job losses.
The new CEO has pledged to continue with the redevelopment of the old port as scheduled, as well as the planned enhancements to the new port.
Mr Woo will also continue efforts to widen and diversify BPA’s business portfolio to boost profits.
Mr Woo took office on July 31, 2015 and will serve for a three year term.
Mr Woo succeeds Mr Lim Ki-tack who takes over as Secretary General at the International Maritime Organization (IMO) in January 2016.
Mr Lim Ki-tack is due to make a contribution on Busan Port in PTI’s Mega-Ports Edition, which is due for release in mid-September, 2015.