PRPA Hosts Korea Industrial Complex Corporation
Pictured: Philadelphia Regional Port Authority’s Joseph Fox with members of a delegation from the Korea Industrial Complex Corporation.
PRPA’s Joe Fox hosted a delegation from Korea. The 18 visitors came from an organization that works with the Korean Ministry of Trade, Industry and Energy to strengthen the development, management, and operation of industrial complexes. Core members of the organization travelled to Pennsylvania, and asked to hear about PRPA’s policies, processes and success factors. According to Fox, “It was good to meet with the delegation, because we have a lot of good news to share. And the timing was right, since we have a new connection with Busan, Korea via Hamburg Sud.” South Korea is a major trade partner with the United States. The Port of Philadelphia receives automobiles, rail cars, and ship parts, among other industrial goods, from Korea. The Port purchased its two post-panamax cranes from Hyundai Heavy Industries, a Korean company. Many Korean and international manufacturers locate in industrial complexes, and these companies do a lot of exporting, as well as the importing of raw materials. Several members of the delegation expressed frustration about shipping via other US Northeast ports, and they were looking for alternatives. PRPA’s Fox concluded, “With our new container service, we see a lot of potential to grow our trade with Korea. The Hyundai – Kia car imports have been a real success story for Philadelphia, and the new container service will allow us to boost exports, as well.”