Incheon Port Authority (IPA) and PSA International (PSA) signed a Memorandum of Understanding (MOU) on 12 November 2013 to facilitate cooperation towards a long term and comprehensive strategic partnership. Through this MOU, IPA and PSA recognise the opportunities to work more closely together for mutual benefit.

The MOU was signed in Singapore by Mr Kim Choon-Sun, President of IPA, and Mr Tan Chong Meng, Group CEO of PSA. The two organisations will share information and ideas in the areas of port operations, technology and best practices; and collaborate in the strategic development of Incheon Port.

As a leading global port group, PSA will contribute its experience and expertise from managing and developing port projects in Asia, Europe and the Americas towards this partnership.

Mr Kim Choon-Sun, President of IPA, said, I believe that such cooperation will serve our common interests and contribute to the enhancement of the friendship and mutual understanding between the two organisations.

Mr Tan Chong Meng, Group CEO of PSA, said, The signing today is the result of our shared desire to form an even closer partnership between the two organisations and to explore deeper collaboration in the areas of port development, management and operations in Incheon.

In Korea, PSA operates Incheon Container Terminal (ICT) in Incheon and Pusan Newport International Terminal (PNIT) in Busan.