South Korea’s Eugene Group has become the nation’s very first to build ultra-low temperature logistics center enabled by combination of liquefied natural gas (LNG) cooling technology, solar power and energy storage system.

The firm’s subsidiary Eugene Super Freeze on Friday held a groundbreaking ceremony for the center in Oseong foreign-invested company industrial zone in Pyeongtaek City, Gyeonggi Province, with an aim of completion by December 2018.

LNG cooling technology refers to reusing cold energy from LNG stored in gaseous form at a temperature of around -162 degrees Celsius to freeze a cold-storage warehouse. Such freezer frozen by the technology can be 70 percent more efficient than conventional freezer using electricity for cooling.

Totaling 162,223 square meters, the super-cool logistics center will be seven-story complex with one underground floor housing three cold-storage warehouses – freezer, refrigerator and room temperature storage – and processing room. It will be able to store up to 114,940 tons of farm produces, poultry and fishery products.

The facility will be built at a cost of 300 billion won ($264.1 million), the third of which will be fund by foreign direct investment. The Korean firm plans to provide comprehensive logistics service from retail, processing, import and export to customs.

“It is a novel business model incorporating LNG cooling technology and renewable energy sources to cold-storage warehouse,” said Yoo Kyung-sun, Eugene Group Chairman.

By An Gap-seong

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Source: Pulse by Maeil Business News Korea (Apr. 9, 2017)