The Inchon Port Authority(IPA) held a ceremony and started business on July 7.
Jung-Ho Suh, the IPA president, said, "I'll do my best with all my strength during my term here in office."
The IPA Board, made up of people from government, the port industry, experts and academics, unanimously eleted Gi-Sang Lee as its chairman.
Also it appropriated 21.5 billion won as an associated budget for the IPA and voted for regulation of fees at Inchon port.