South Korea: BPA, PSA Sign MoU for Strategic Cooperation

Busan Port Authority (BPA) and PSA International (PSA) signed a Memorandum of Understanding (MOU) on 7 December 2012 to facilitate cooperation towards a long term and strategic partnership between the two organisations.

Through this MOU, BPA and PSA recognise the opportunities to work more closely together to realise mutual benefits in the Port of Busan.

The MOU, signed by Mr Lim Ki Tack, President of BPA, and Mr Tan Chong Meng, Group CEO of PSA, in Busan, South Korea, will strengthen the bilateral exchange of information and ideas in port development, management and operations.

As a leading global port group, PSA will contribute its vast experience and expertise from managing and developing port projects in Asia, Europe and the Americas towards this partnership.

Mr Lim Ki Tack, President of BPA, described the cooperation between Busan Port and PSA International as bearing special significance and said, “I believe that this MOU will contribute to further economic growth not only between our two ports but also between Korea and Singapore.”

Mr Tan Chong Meng, Group CEO of PSA, commented, “PSA is honoured to be given this opportunity to strengthen its partnership with the Busan Port Authority and we are pleased to be able to play a part in the growth and development of Busan Port.”

PSA currently operates Pusan Newport International Terminal (PNIT), a joint venture between PSA and Hanjin Transportation Corporation, in Busan New Port.

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Press Release, December 10, 2012