Busan Port Authority Promises to Open Up “An Era of Container Cargo Volume of 32 Million TEU” by Preparing for the Post COVID-19 and the 4^th IR World with the New Visions and Management Goals
BPA published the Mid to Long-Term Comprehensive Development Plan on Nov. 9, which consists of its new visions to actively prepare for the global changes caused by the unprecedented COVID-19 pandemic, the 4^th Industrial
Revolution, etc., as well as for the coming era of the 2^nd Busan New Port and the 2^nd North Port redevelopment
phase.

BPA restructured the organization in July in order to push forward with innovation and sustainable growth, introduce a smart shipping and port logistics system, and conduct businesses on a global level, all to prepare for the fast-changing environment. This time, the Authority established the Mid to Long-Term Comprehensive Development Plan based on
the external analysis and internal opinions.

In the Mid to Long-Term Comprehensive Development Plan, BPA set its new vision to be a “Global hub port that
connects the world”, reflecting its commitment to make Busan Port a progressive and future-oriented global hub port.

Moreover, it set its 2030 management goals for the total cargo volume at 32 million TEU (17 million TEU for
transshipment volume), the growth of port-related industry at 20%, the investment in future growth businesses at 5%, and the Customer Satisfaction Management Index at Level S.

In particular, the goal for total cargo volume of 32 million TEU is 40% up from this year’s goal of 22.6 million TEU.
This shows that BPA is committed to implementing sustainable growth strategies by introducing a smart shipping and
port logistics system and expanding overseas logistics network, while actively responding to the changes in the 4^th IR
and the post COVID-19 World in the mid to long-term.

To this end, BPA chose 4 strategic goals, including 1) Strengthening global digital competitiveness, 2) Leading a
BPA-style New Deal, 3) Securing a sustainable future growth engine, and 4) Advancing customer centered
management, as well as 12 strategic tasks.

First, for the strategic goal of ‘Strengthening global digital competitiveness’ chosen to digitalize port facilities and make the port greener, following 3 strategic tasks were chosen: 1) Providing top-level global port services, 2) Advancing
infrastructure to be a port of future, and 3) Making Busan Port a safer and cleaner port.

Second, for the strategic goal of ‘Leading a BPA-style New Deal’ that focuses on creating jobs in distripark and the
marine tourism industry, 3 tasks chosen are as follows: 1) Creating more added values through distripark,
2) Supporting the marine tourism to leap forward, and 3) Creating jobs through the BPA-style New Deal Project.

Third, for the strategic goal of ‘Securing a sustainable future growth engine’, 3 following tasks were set: 1) Growing
through innovation and enhancing R&D capabilities, 2) Constructing and operating port and logistics-related facilities
overseas, and 3) Establishing a port that embraces the local community.

Lastly, for the strategic goal of ‘Advancing customer-centered management’, following 3 tasks were chosen:
1) Establishing a digital management system, 2) Nurturing DNA talents developing the organizational culture,
3) Establishing open-book management.

BPA CEO NAM Ki-chan stated, “The Authority established the 2030 Comprehensive Development Plan for the next 5
years of the company. We will faithfully implement detailed strategic tasks to achieve the 2030 goal of 32 million TEU
in total cargo volume and strengthen Busan Port’s status as a global transshipment port.