The Busan Port Authority (BPA) – the 6th largest container port in the world – announces Mr 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 was educated at Korea’s Dankook University and the University of Cardiff, UK. He has worked in a range of Korean government maritime roles including Director General for Shipping Policy, Assistant Minister for Marine Policy and Director-General for Northeast Asia Logistics Hub Promotion. Prior to his current appointment, Mr Woo served as Deputy Minister for Planning and Coordination at the Ministry of Oceans and Fisheries. He is also a visiting professor at the Graduate School of Logistics, Incheon National University.
Mr Woo took office on 31 July 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.
In 2003, the Korean central government handed over the management of Busan Port to
a newly organized port authority to develop Busan Port into one of the world’s leading ports, planning to take full advantage of the port authority system: quick decision-making, flexible and
independent organizational management and self-supporting finance. To achieve this goal, the
Port Authority Act was established and the Busan Port Authority (BPA) was founded on Jan 1st 2004.
BPA is responsible for:
- development of the port facility and port operation
- research activities for port development, port operation and human resources in the port
- operation and management of the integrated logistics terminal and port distribution facility
- development of pork worker welfare facility
- operation of projects delegated by central and local government
