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According to Yonhap News,

Coupang is to build a smart logistics center in Busan-Jinhae Free Economic Zone (BJFEZ).

The BJFEZ Authority (BJFEZA) said on February 3 that it had recently signed 'International Industrial Logistics Zone 9th District Occupancy Contract' with Coupang.

The BJFEZA said "with the designation as a specialized industrial zone in addition to the signing of MOU with Coupang in June last year, we laid the foundation for creating a large number of jobs and revitalizing regional economy. Furthermore, the signing of the Occupancy Contract will advance the International Industrial Logistics Zone a step further into a center of multi-functioning logistics in Northeast Asia."

Coupang plans to invest KRW 220 billion in construction of the smart logistics center.

It plans to commence construction in October this year, with a goal of completing the construction in 2024. It will build a 6-story building on a site of 57,000㎡.

Coupang will hire about 3,000 residents of Busan and Gyeongsangnam-do first for the smart logistics center.

The BJFEZA explained that "The operation of the smart logistics center will help increase income of local transport workers and generate jobs, and contribute to increasing sales of local companies by discovering related projects such as expanding presence of local small merchants products in Coupang."

The International Industrial Logistics Center 9th District is a center of triports, where airport, port, and railroad meet.

When Gadeok New Airport is constructed, the District is expected to develop into 'Center of Northeastern multi-functioning logistics, and a hub of global e-Commerce logistics'.

sjh@yna.co.kr

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Source: Yonhap News (February 3, 2022)