During his recent trade mission in Korea, Los Angeles Mayor Antonio Villaraigosa signed a memorandum of understanding with California United Terminals, a subsidiary of Hyundai Merchant Marine, to expand the flow of goods and services between Los Angeles and South Korea. The Korean-owned company pledged to help build the port’s Pier 500 project that will create thousands of permanent and construction jobs.
“I am proud of the fact that Hyundai Merchant Marine has confidence in our relationship and our port, and is committed to investing in the Pier 500 project and the port’s long-term future,” Villaraigosa said. “Partnerships like this are what we need to support local businesses, create new jobs and retain the Port of Los Angeles’ title as the nation’s number one shipping container port.”
Pier 500 will alow larger container ships through the Hyundai Merchant Marine Terminal. To improve efficiency for the port’s customers, the project also will include an automated terminal to handle containers directly off the ship and “on-dock” rail that will allow trains to be loaded within the terminal.
