Barcelona and Busan join forces
South Korea and Spain start with the same letter; and so do Busan and Barcelona. The two ports have joined forces to promote their trade relations by inking an agreement to start a joint company and opening a Korean logistics platform in the port of Barcelona's 'logistics activities zone' (ZAL). The warehouse will facilitate trade between northeastern Asia and southern Europe.
The bilateral company, called the 'B2B logistics Busan & Barcelona hub', in which both ports hold a stake, will manage the promotion of the logistics platform for South Korean companies in Barcelona.
The company, which is already operational, will be presided over by Boo-Won Kang, vice-president of Busan Port, while the executive management team will headed by Jordi Torrent, head of strategy at the port of Barcelona. The port of Busan holds a 51% stake in the JV, while Barcelona holds 49%. (sh)