Busan-Jinhae free zone authority strengthens ties with Vietnam's TCIT

The Busan-Jinhae Free Economic Zone Authority said Thursday that representatives of TCIT (Tan Cang Cai Mep International Terminal), Vietnam's leading container terminal operator, paid an official visit to the authority.

The visit follows a trip the authority made to Vietnam in October. The two sides did not sign a formal MOU but toured the logistics infrastructure at Busan New Port and Jinhae New Port and discussed avenues for mutual cooperation.

TCIT operates a deep-water container terminal at the Cai Mep-Thi Vai port complex, a key logistics hub in southern Vietnam. The company was established in 2009 as a joint venture among Vietnam's Saigon Newport (SNP), South Korea's Hanjin, Japan's MOL and Taiwan's Wan Hai Lines, and began operations in 2011.

Vietnam is one of the five largest trading partners of Busan Port. Because Hanjin, a South Korean company, holds a stake in TCIT, the visit carries practical significance for manufacturers and logistics firms based in the zone seeking to connect with Vietnam's import-export network. The delegation heard briefings on the zone's Tri-port system — linking port, airport and rail — and its investment support regime, and expressed strong interest.

"This exchange has served as an opportunity to deepen logistics and investment cooperation with Vietnam," Busan-Jinhae Free Economic Zone Authority Commissioner Park Seong-ho said. "We will continue to expand our network with global port and logistics companies, building on our strong logistics infrastructure."