This study aims at identifying the key factors to Korean logistics companies' successful entry into overseas ports, focusing on gap analysis between Global Terminal Operator(GTO)s and Korean logistics companies strategy.
Based on existing studies on overseas port expansion strategy, through analysis on GTO strategies and case study on Korean logistics companies' investment in overseas ports - ie. failure of Vietnam Vung Tau Port investment, the several key elements to it are identified as follows :
a) In-house core competency equipped with internally-trained-experts and accumulation of operation know-how through benchmarking of GTO and enhancement of efficient operation system through constant innovation that should be strengthened in the Korea port market first and then improvement of skills of global negotiation and pricing-package deal through expansion of global terminal network in order to proceed triumphant entry into overseas ports,
b) External core competency to be intensified based on various strategy for successful overseas port entrance through joint-venture and partnership with GTOs, Investment Banks(IB), shipping lines and other logistics companies, and economies of scale through M&A and share-investment, and even employment of global-minded external experts both on a local and global basis for a effective feasibility study on overseas port investment project.
c) Systematically various supporting policy by government such as introduction of diverse financial instruments by banks and their efficient deployment, prompt action plan and procedure for overseas port project, and selection of major participants whom a target country prefers as well as utilization of the preference in a drive to succeed Korean companies' presence in the targeted overseas port.
The result of this paper provides a basic data for Korean logistics service providers to strengthen their competitiveness for their triumphant entrance and presence in(to) overseas port and also will suggest an in-depth insight into a successful strategy for investment in overseas port projects now and in future.