Busan port to eliminate container tax
The Port of Busan said Monday that a container tax in effect since 1992 will be eliminated Dec. 31.
The tax, $21.56 per TEU, had been established by the city of Busan Metropolitan to fund road construction in the port. The tax was originally intended to be scrapped in 2001, but the local government extended the tax until the end of this year despite fierce opposition from the port and shipping industry.
With the tax going away, importers and exporters should expect to see a decrease in logistics costs and the port hopes to become more competitive as a result, it said in a statement.