Seaport trading volume declines in April amid economic slump

By Koh Byung-joon
SEOUL, May 27 (Yonhap) -- The volume of shipments processed at South Korea's
seaports declined 11 percent in April from a year earlier, a report showed
Wednesday, indicating that a global economic slowdown dented overall business
activities.
According to the report by the Ministry of Land, Transport and Maritime Affairs,
the volume of shipments handled at the nation's 28 ports amounted to 85 million
tons in April, compared with 95 million tons a year earlier.
Busan, the nation's largest port city, saw its shipment volume drop 15.9 percent,
while Gwangyang and Incheon posted contractions of 17.4 percent and 12.6 percent,
respectively, the report showed.
During the first four months of this year, cumulative cargo volume processed at
the ports amounted to 330 million tons, 12.1 percent down from the same period a
year earlier, the report showed.
The declining pace of trade volume, however, seems to be easing after plunging
15.7 percent in January from a year ago. The volume contracted 9.8 percent in
February and 13 percent in March, respectively.
"After a plunge in January, the downturn is abating thanks to the government's
efforts to expand fiscal spending (aimed at boosting the economy) and the trend
will likely continue for the time being," a ministry official said.
kokobj@yna.co.kr
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