BUSAN < invest Korea

(BUSAN=Yonhap News) Busan Metropolitan Corporation announced January 5 that it will be leasing out stage 1-2 general lots at the International Industrial Logistics City located in the hinterland of Busan New Port in Ganseo-gu.

The lots up for lease are the last unoccupied general sites at the International Industrial Logistics City, and consists of two lots for support facilities such as type-1 and type-2 neighborhood facilities, as well as one lot for parking spaces.

The two lots for support facilities cover 3,300 square meters of land, while the site for parking spaces take up 4,600 square meters. The expected rate spans from KRW 2.6 million to KRW 3.9 million per 3.3 square meters.

The lots will be leased out though an electronic bidding method via Korea Asset Management Corporation's national property public auction system OnBid for the two days starting January 18.

The average competition rate was 170 to 1 when 63 stage 1-1 general lots of the International Industrial Logistics City were leased out in March 2016, and 13 to 1 when 30 stage 1-2 general lots were leased out in June of the same year.

pcs@yna.co.kr

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Source: Yonhap News (Jan. 5, 2018)