Press Releases

A system that allows real-time monitoring of transshipment situations using blockchain-based technology will begin service at the end of this month at Busan Port. This world's first commercialization model, where port authorities, shipping companies, and terminal operators share relevant information in real-time, is expected to strengthen the competitiveness of Busan Port, the second-largest transshipment port in the world. On September 24, at the Busan International Port Conference held at the Busan Port International Convention Center, a demonstration of the port monitoring service was conducted at an exhibition booth. International Newspaper D Busan Port Authority (BPA) announced on the 5th that it will provide a "Transshipment Monitoring Service" that allows real-time tracking of vessels and cargo transshipped at Busan Port starting at the end of this month. Initially, the service will be provided to two global shipping companies and four terminals at Busan New Port. Using this service, users will be able to monitor transshipment status, progress information, work times and histories, berth schedules, and more, all in real-time, with an easy-to-read overview. The status of cargo and work progress can also be quickly identified. In case of an emergency due to abnormal weather, an immediate alert will appear, enabling quick responses. The biggest advantage of this service is its high security and reliability. Using blockchain-based decentralized identity (DID) technology, access to verified data is granted only to verified parties. Although companies were hesitant to share critical internal information, the application of blockchain technology ensures that the information is efficiently managed without being exposed externally. Last year, 54% of the total cargo volume (23.14 million TEUs) at Busan Port was transshipped cargo, meaning cargo is moved to another vessel before reaching its final destination. Busan Port has 10 container terminals, and 35% of transshipped cargo is transferred to other terminals. Port operators have struggled with a lack of information about cargo during transshipment to other terminals or failure to share the information promptly, leading to movement errors and congestion. Delays and errors in transshipment are factors that reduce port efficiency due to additional time and costs, and increased berth usage rates. The Transshipment Monitoring Service is part of the Ministry of Science and ICT's "Regional Specialization Project for Blockchain Convergence," with a total project cost of 2.66 billion KRW (10 billion KRW from the Ministry of Science and ICT, 10 billion KRW from Busan City, etc.). A consortium consisting of local companies such as Smart M2M, CONTAINUS, and Goldilocks Shipping won the project and is carrying it out. The Busan Port Authority proposed the idea and oversees the entire project. A BPA representative stated, "This service will allow us to track and manage data in real-time, safely and efficiently, leading to a reduction in overall logistics costs and an increase in efficiency."

Busan Port will be the first in the world to establish and operate an advanced transshipment system. By advancing and optimizing the second-largest transshipment logistics in the world, it aims to enhance port operational efficiency, strengthen competitiveness, and raise its international standing. Busan Port Authority (BPA) and the Smart M2M consortium announced on the 28th that they have completed the development of the "Blockchain-based Transshipment Monitoring System (Port-i)" and will begin beta testing as early as December. "Port-i" is a system designed to support faster, simpler, and more accurate handling of transshipment cargo. It provides key information needed for optimal transshipment cargo management, including transshipment status, vessel and cargo monitoring, anomaly detection, terminal schedules, and more, to shipping companies, terminal operators, and transportation companies. By integrating blockchain technology, concerns regarding data security and system operation have been resolved. Using a cloud-based blockchain (BaaS) model, data is exchanged and managed securely without the risk of leakage. Shipping companies can increase vessel load factors through timely transshipment, boosting revenue while reducing various ancillary costs associated with terminal use. Terminal operators can optimize terminal operations by increasing yard utilization during timely transshipment, and transportation companies can reduce unnecessary waiting times, improving cargo turnover rates. The city of Busan expects this system to enhance the overall transshipment competitiveness of Busan Port, leading to an increase in cargo volume and raising the port's international status. Although Busan Port is the second-largest in the world for transshipment cargo handling, it did not have a unified system for transshipment cargo management. There was a lack of information sharing between terminals, shipping companies, and transportation companies, with concerns about sharing or providing the necessary data. This is why BPA proposed and led the development of "Port-i." After proposing the system development, BPA, as a public institution, promoted the integration of blockchain technology and its reliability and responsibility, persuading terminal operators, shipping companies, and transportation companies to participate. As a result, numerous major terminal operators, shipping companies, and transportation companies based at Busan Port have contributed terminal, vessel, and cargo information necessary for the development of Port-i and are using the service. Park Kyung-chul, head of the Digital Information Department at BPA, stated, "The development of Port-i was made possible by informing and persuading the stakeholders about the necessity of the system, leading to cooperation. It will become a successful case that benefits all participants and contributes to strengthening the transshipment competitiveness of Busan Port." The development of "Port-i" is part of the "Blockchain Specialized Cluster Formation Project (2024-2026, with a budget of 20 billion KRW)," supported by the Ministry of Science and ICT, the Korea Internet & Security Agency, Busan City, and Busan Technopark. The Smart M2M consortium, led by BPA and including companies such as CONTAINUS, Goldilocks Shipping, and SmartCube, jointly developed the system.

The "Global Supply Chain Technology Demand-Supply Council Launch Ceremony," hosted by Busan City and the Human-Centered Carbon-Neutral Global Supply Chain Research Center (SCSC Research Center) at Busan National University (President Choi Jae-won), was held on the afternoon of the 24th at the Westin Chosun Busan in Haeundae-gu, Busan. The global supply chain refers to a series of processes in which resources are procured from various countries and regions to produce and distribute products or services. The "Global Supply Chain Technology Demand-Supply Council" was established with the purpose of activating the matching of demand and supply companies in the field of global supply chain technologies and providing efficient support to related companies. At the event, many key demand companies in global supply chain technology, particularly shipping companies, terminal operators, and other supply chain companies, attended the ceremony and discussed the adoption of supply companies' technologies and mutual cooperation strategies. The ceremony began with an introduction to Busan City’s related global supply chain projects, followed by a lecture on carbon-neutral trends in the shipping and port logistics sector by Lee Eun-kyung, Director of the Korea Maritime and Ocean University (KMOU), an introduction to the SCSC Research Center at Busan National University, a presentation on the council's vision and operational plans, and the appointment of committee members for the maritime, port, and land sectors. Attendees shared the latest technological trends in global supply chains and sought ways to enhance mutual exchange and cooperation through networking. In the future, the council plans to promote the commercialization of technologies developed at universities by linking them with local businesses and strengthen the global competitiveness of the region’s industries. To this end, monthly online and offline meetings will be held to share cases of technology adoption, government projects, and the status of global supply chain businesses. The number of participating companies is expected to expand from about 40 to over 50. Bae Hye-rim, Director of the SCSC Research Center at Busan National University, stated, "This council will serve as an important platform to reduce the gap between supply and demand in global supply chain technologies and enhance competitiveness in the global market through mutual cooperation. We will do our best to make our center the hub of the integrated maritime-port-land supply chain." Busan City and Busan National University expect that the council will serve as an important stepping stone for the development of the regional global supply chain technology industry and enhance global competitiveness. | Source: Asia Economy | https://www.asiae.co.kr/article/2024092511501323650

On June 14th, an MOU was signed between the SCSC Research Center and GOLDILOCKS SHIPPING at Room 507, 5th Floor, Engineering Building 10, Busan National University.

(Busan = Yonhap News) Reporter Cho Jung-ho – Foreign workers are being deployed to shipyards in the Busan area, raising expectations that this may help alleviate the chronic labor shortage in the shipbuilding industry. According to the shipbuilding industry on the 28th, 26 Filipino workers entered Busan via Gimhae Airport on the 23rd. These workers, who are experienced welders responsible for assembly tasks at the Subic Shipyard in the Philippines, have been assigned to HJ Heavy Industries' Yeongdo Shipyard. The reason for deploying foreign workers to HJ Heavy Industries, as with other shipyards, is that while the order volume has increased significantly since last year, there have been concerns about delays in the overall production process due to a shortage of on-site labor. The newly deployed Filipino workers hold welding qualifications equivalent to those required by Korean shipyards, and they are expected to help shipyards struggling with a shortage of welding labor. HJ Heavy Industries has recently secured contracts for two methanol-powered container ships worth 316.7 billion KRW with HMM, and has also secured orders for new naval support vessels and coast guard patrol boats. Despite the recent surge in orders, the shipbuilding industry, including HJ Heavy Industries, has been facing difficulties in securing the necessary labor for ship construction. A source from the shipbuilding industry said, "While the order backlog at domestic shipyards is increasing, it is nearly impossible to hire local workers. The government has been issuing special visas since last year to actively bring in foreign welding workers, but it has not yet met expectations." A representative from Goldilocks Shipping, who facilitated the introduction of the Filipino welding workers, stated, "The newly introduced foreign workers lack shipyard experience, so additional training is needed, and it will take more time than expected for them to begin hull welding work. However, utilizing workers who have worked at the Subic Shipyard in the Philippines is expected to significantly help improve the domestic shipbuilding labor supply."