|Subject||Busan Scraps Box Tax
|Writer||Lee Min Jung
Tuesday, 05 December 2006
<br />A CONTAINER tax imposed on all containers handled at Busan Port, South Korea, is to be abolished<br> on 31 December.
<br />Busan Metropolitan City has imposed the won20,000(US$21.56) per TEU container tax since 1992 in <br>order to fund road construction of Busan port.
<br />Originally intended to end in 2001, the local government extended the tax to the end of this year despite<br> fierce opposition from port and shipping industries.
<br />Busan Port says: “With the container tax scrapping from next year, importers and exporters will expect <br>to see the decrease of logistics cost enhancing cost competitiveness.” It added that the move will boost <br>the port's competitiveness.