Busan is one of the youngest partners of the Port of Hamburg. The agreement was commenced in October 2012. Handling 19.5 million TEU in 2016, the Port of Busan took sixth place among the world’s Top 15 container ports. Due to its location in the south of Korea, Busan is part of the shipping routes between Europe and East Asia, as well as the so-called Transpacific Route between Asia and the USA. The transshipment rate is very high at over 50 percent.
The port consists of an old and new part with ten container terminals in total. The construction project "New Port Development" is going to be completed by 2020. After that, 45 berths will be available, of which 23 are already in operation. The Busan Port Authority, established as a public company in 2004, is the owner and landlord of the port area.
The main imports via Port of Busan are machinery and plant. Among exports are machinery as well as synthetic materials and electrical products. Container traffic between South Korea and Hamburg came to 276,626 TEU in 2016. As of today, there are six liner services between the ports of Hamburg and Busan.