Busan scraps box tax

A container tax imposed on all containers handled at Busan Port, South Korea, is to be abolished on 31 December.Busan Metropolitan City has imposed the won20,000(US$21.56) per TEU container tax since 1992 in order to fund road construction of Busan port.Originally intended to end 2001 the local government extended the tax to the end of this year despite fierce opposition from port and shipping industries.Busan Port says: “With the container tax scrapping from next year, importers and exporters will expect to see the decrease of logistics cost enhancing cost competitiveness.” It added that the move will boost the port’s competitiveness.