• The Incheon Port Authority (www.icpa.or.kr, President Lee Kyung-gyu) announced that President Lee Kyung-gyu will actively participate in Port Sales from the 13th to the 15th in China, Incheon Port’s largest trading partner.

   

• With the aim to boost cargo volume between Incheon Port and China and revitalize marine tourism, President Lee designated Shanghai, home to the world's largest container port, and Qingdao, a major cruise tourism city in China, as the primary destination for Port Sales after assuming office.

• According to IPA, the Port Sales initiative includes organizing the Incheon-Shanghai Forum and conducting meetings with shipping and logistics companies, benchmarking at the Shanghai Yangshan Port, and signing a Memorandum of Understanding (MOU) for the development of cruise port and tourism hubs between Incheon and Qingdao. The IPA Shanghai representative office also participated in these activities.

• On the 14th, IPA, in collaboration with the Consulate General of the Republic of Korea in Shanghai (Consul General Kim Young-jun), hosted the ‘4th Incheon Port Shanghai Forum (IPSF 2023)’ in Gubei, Shanghai. The forum consisted of three sessions centered on the theme of "Logistics Innovation using Chat GPT."

• The forum was attended by over 100 participants, including representatives of national shipping companies, members of the Shanghai Korea International Freight Forwarders Association (SKIFFA, Chairman Minseok), and executives and staff of logistics and shipping companies. Discussions included sharing the latest logistics trends and the outlook for the market conditions of Korea-China logistics in the coming year.

• President Lee expressed in his welcome address, "Through this forum, I hope that maritime logistics companies can foster the creation of business opportunities using generative artificial intelligence technology*." The Consul General of the Republic of Korea, Kim Young-jun stated in his congratulatory speech, "Since 2020, IPA has been consistently providing substantial support to shipping and logistics companies in Shanghai by presenting emerging trends in the logistics sector through the annual forum."

*Generative Artificial Intelligence Technology: artificial intelligence systems that learn patterns from existing data and use that knowledge to generate new data.

• Following this, Professor Ding Yi of Shanghai Maritime University delivered a keynote speech on "Digital Smart Port Logistics: From Generative AI to Next-Generation Port Logistics Systems." In the economic session, Shin Hyung-kwan, CEO of Mirae Asset Shanghai, discussed the ‘Current Situation and Prospects of the Chinese Economy in 2023 and 2024’. In the maritime session, Zhang JieShu, Secretary-General of the Shanghai International Shipping Research Center, presented an ‘Analysis of the Changing Momentum, Trends, and Strategies in the Global Shipping Network’. In the port session, Park Won-geun, IPA Marketing Director, spoke on "Incheon Port as a Forward Base for import and exports to China."

• After the forum was concluded, IPA conducted a meeting with representatives of shipping and logistics companies based in Shanghai through the ‘2023 Meeting of National Shipping Company Representatives and SKIFFA Member Companies’ to gather opinions on the challenges in using Incheon Port as well as strategies to increase cargo volume.

• A day before the forum, on the 13th, IPA visited Shanghai International Port Group's (SIPG) Yangshan Port Phase 4 Automated Terminal* in preparation for the opening of the Incheon New Port Phase 1-2 container terminal in 2027. Benchmarking activities state-of-the-art port facilities and systems, including automated yard cranes, unmanned quay cranes, Automated Guided Vehicles (AGVs), Terminal Operation Systems (TOS), and Equipment Control Systems (ECS).

  *Yangshan Port is recognized as the world's No. 1 container handling port situated in Shanghai, China. The port boasts four automated docks, spanning a total length of 2,350 meters, operating with 120 automated yard cranes, 28 unmanned quay cranes, and 145 AGVs.

• President Lee Kyung-gyu of Incheon Port Authority stated, "Incheon Port's cargo volume with China is on an upward trend, thanks to the support of shipping and logistics authorities, including Korean shipping companies and forwarders.” He added, "Our ongoing efforts aim to further stimulate Korea-China trade through Incheon Port in the future."

• Concurrently, the container cargo volume at Incheon Port reached 2,529,323 TEUs as of September, showing a 6.7% increase compared to the same period last year. Notably, China’s cargo volume accounted for approximately 59%, reaching 1,488,270 TEUs.