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Busan Port Authority achieves higher revenue in 2014

Busan Port Authority achieves higher revenue in 2014
South Korea’s Busan Port Authority (BPA) has recorded an increase in revenue for its financial year 2014.

Revenue for last year came up to KRW348.6bn ($314.3m), an increase of 24.6% compared to KRW279.8bn in 2013. Net profit was recorded at KRW107.7bn.

BPA president Lim Ki-tack noted that the port authority has operated in the black for 11 consecutive years since its establishment in 2004.

The port lowered rental fees to operators after it went through difficulties in management systems due to the transfer of container shipping from Busan North Port to Busan New Port.

Lim said last year’s performance was due largely to debt management and efforts to create new profits. “We will continue our efforts in the future,” he said.