Pukyong National University

“Need to push ahead with cooperation and competitive strategy at once for the development of Busan Port"
- Woo Sung-min from PKNU, won the grand prize in Essay contest for Busan International Port Conference

In order to strengthen the position of the world's five major ports, a university student attracts attention with his argument that Busan port should pursue cooperation and competition strategies with other ports.

△ PKNU student, Woo Sung-min Ⓒ Photo Lee Sung-jae (PR team)

 He received the most excellent evaluation by claiming that "In order to further development of Busan Port in the global maritime market, it should be able to provide a service that is as good as other ports, while strengthening the inter-port cooperation system."

 He explains the development strategy of Busan Port with two strategies of 'cooperation' and 'competition'. In the aspect of cooperation, 'chain port' and block chain which organically share port technology and information, the system should improve port efficiency and create a new port management model."
In order for Busan Port to develop into a transshipment hub port, it suggested the necessity of connection reinforcement and information sharing with ports with high growth potential as well as various advanced ports such as Hamburg Port and LA Port.

 In competition term, "Recently, as China has emerged as a competitor in the port sector and competition between ports has intensified, Busan Port Corporation should actively enter into the world market and create high added value to have differentiated competitiveness."

 As a concrete plan to create high added value, he proposed that "building a bunkering infrastructure based on LNG fuel for refueling vessels in Busan port, constructing a repair shipbuilding complex to expand the repair shipbuilding industry, and establishing a maritime hydrophilic space linking ports and sightseeing spots in Busan."

 The essay contest was held in cooperation with the Busan International Port Conference and was held for universities nationwide and in the competition, a total of eight awards, including one Grand Prize, one Excellence Prize, and six Encouragement Prize winners, were selected. <Pukyong Today>