Port Authority of NY-NJ seeks partnership with Busan

2023 Conference on Maritime Logistics & Supply Chain between Korea & U.S.

The NJCU-KMI Center for Supply Chain and Maritime Logistics(CSCML) hosted an inaugural conference on Maritime Logistics and Supply Chain between U.S. and Korea in collaboration with Korea Maritime Institute (KMI), New Jersey City University (NJCU), and Maeil Business TV (MKTV) on Wednesday, November 8, at the NJCU School of Business Skyline Room in Jersey City, New Jersey.

The conference brought together experts from various fields, including maritime logistics, ship finance, and the shipping industry. Attendees will have the opportunity to gain insights from a diverse range of organizations, including the U.S. Department of State, New Jersey State Assembly, New Jersey Economic Development Authority (NJEDA), Choose New Jersey, Port Authority of New York and New Jersey (PA NYNJ), Consulate General of the Republic of Korea in New York, Korea Ministry of Oceans and Fisheries, Korea Ocean Business Corporation (KOBC), Busan Port Authority (BPA), CJ Logistics USA, HMM, and many others.

2023 Conference on Maritime Logistics & Supply Chain between Korea & U.S.

During the event, two keynote speakers took the stage to discuss the importance of economic cooperation between the United States and Korea. Mr. Andrew Gross on behalf of Tim Sullivan, Secretary of the New Jersey Economic Development Authority (NJEDA), highlighted the role of New Jersey in economic cooperation with the United States. New Jersey is the largest investor of Korean companies in the eastern United States. Ms. Beth Rooney, President, Ports, Port Authority of New York and New Jersey (PA NY/NJ), stressed the importance of a new era of cooperation between Korea and the U.S., as major trading partners. She emphasized that maritime routes are opening up through the Port of New York and New Jersey, connecting Korea and the U.S. to mitigate supply chain risks beyond the existing connections to the U.S. West Coast ports. She also proposed a sister port relationship between the Port of New York and New Jersey and the Port of Busan in Korea.

The two panel sessions included keynote presentations and discussions by experts from Korea and the U.S. on decarbonization of the shipping sector and digitalization of ports. These major global topics address sustainability, cybersecurity, and digital advancement in maritime sector.

The first panel on shipping was moderated by Dr. Sung Woo Lee, Founder&Executive Director of the Center for Supply Chain&Maritime Logistics at NJCU, which was jointly established by KMI and NJCU. Staci Weist, the Chief of Vessel Inspection, and Wayne Lundy from the U.S. Coast Guard, jointly spoke about the environmental regulations for ships at the New York and New Jersey harbor, and the U.S. policies and responses to the emergence of eco-friendly ships. In response, Dr. Byung-wok Ko of the Korea Maritime Institute proposed the direction of shipping cooperation between Korea and the U.S., and the first Port Bunking Partnership between Korea and the U.S. by establishing a Green Shipping Corridor at sea. Kierstin Del Valle Lachtman, Secretary General of the Shipowners' Council of Liberia, the world's No. 1 ship registry, said that the number of eco-friendly ships is increasing, and management is being strengthened. Lee Jung-yup, Head of the Americas Division of HMM, a Korean flag carrier, mentioned HMM's active response to the global trend of eco-friendly shipping. Additionally, Mi-Young Choi of Transport Capital, an expert in ship finance on Wall Street, said that the emergence of eco-friendly ships is an inevitable fact. The financial community emphasized close cooperation with shipping companies and shipbuilders in building eco-friendly ships in line with this change.

The second panel discussion on port management in the era of digitalization and decarbonization was moderated by Dr. Marvin Walker, Dean of the NJCU School of Business. Beth Rooney, Port Director of the Port Authority of New York and New Jersey, delivered the keynote presentation, highlighting the efforts of the Port Authority towards digitalization and its current status. Seon-mi Lee, Deputy General Manager of Busan Port Authority, presented the various initiatives taken by Busan Port for digitalization and the direction of cooperation between Korea and the United States in digitalization and environment-related issues. Kevin Coleman, President of CJ Logistics USA, explained their efforts on digital logistics for the upcoming distribution center in Secaucus, New Jersey, and the triangular digital connection among the Port of Busan, the Port of New York and New Jersey, and CJ Logistics’s Secaucus Center. Dr. EunSu Lee, a professor of the NJCU School of Business, discussed the degree of digitalization of the Port of New York and New Jersey, the differences between technical digitization and business perspective digitization, and the challenges of connecting them. Dr. Geunsub Kim of the Korea Maritime Institute talked about the degree of digitalization of Korean ports and mutual cooperation between the U.S. and Korea

During his opening remarks, Jong-deog Kim, the president of Korea Maritime Institute, emphasized the importance of securing a stable global supply chain as a crucial national strategy in the wake of the COVID-19 pandemic. He also highlighted the significance of the 70th anniversary of the alliance between Korea and the United States and the need to focus on logistics supply chain centered on shipping and logistics. Kim further added that his institute will strive to launch research and cooperation projects to establish a joint research center, which will benefit related Korean companies by providing them with a stable business model.

[ Yonggab Kim / gap@mk.co.kr ]

2023 Conference on Maritime Logistics & Supply Chain between Korea & U.S.