Singapore's PSA strengthens cooperation with Busan port authorities

SOUTH KOREA's Busan Port Authority (BPA) and PSA International (PSA) have signed a Memorandum of Understanding (MoU) to form a long-term partnership and work more closely together at the port.

The MOU, signed by Lim Ki Tack, president of BPA, and Tan Chong Meng, group CEO of PSA, is expected to strengthen the exchange of information and ideas in port development, management and operations.

Mr Lim said the cooperation between Busan Port and PSA International has special importance, saying, "I believe that this MOU will contribute to further economic growth not only between our two ports but also between Korea and Singapore."

Said Mr Tan: "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.