Busan Port Authority stated that FDI to Busan New Port Distripark-opened 2006-totaled 118.3 billion won as of Dec. 2014, BPA said in its press release.
BPA has exerted in invigorating the distripark while fierce competition for cargo attraction among ports has been accelerating due to the establishment of the global logistics networks. Despite the recent sluggish increase in global shipping cargo volume, Busan New Port Distripark is growing rapidly. The number of tenant companies that have been selected through competitive bidding is currently 68 corporations and has been continuously growing since 2006.
Most of the tenants are foreign invested enterprises and 90 foreign companies have participated in the investment. The scale of direct investment, attracted by these corporations, totaled 118.3 billion won as of the end of Dec. 2014.
Cargo volume handled at the Busan New Port Distripark has also drastically increased. The cargo volume in 2014 increased more than 40 percent to 1.28 million TEUs year on year.
The distripark also contributes to the vitalization of the local economy through job creation. 49 currently operating tenant corporations have hired 2,880 employees which is double the amount hired the previous year.
The distripark has developed while aiming at not only quantitative growth but also qualitative growth. Currently, Busan Port Authority manages sales-the quantitative growth indicator-which the tenant companies gain 1 TEU cargo process. According to the result of a complete enumeration of the 49 tenant companies in the distripark, it is approximately 250 thousand won, a 30 thousand won increase from 220 thousand won last year, as of the end of December 2014.