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Canadian logistics company to invest KRW 230 billion in BJFEZ

According to Yonhap News,

(BUSAN=Yonhap News) A global logistics company is set to build two high-tech logistics centers in Dudong area of the Busan Jinhae Free Economic Zone (BJFEZ) by investing KRW 230 billion.

On May 8, the Busan Jinhae Free Economic Zone Authority (BJFEZA) announced that Kendall Square, a Canadian company, is going to build Changwon Logistics Park and Kendall Square Changwon DC in Dudong District, Jinhae-gu, Changwon city, slated for construction completion in the next month.

KRW 150 billion will be put into Changwon Logistics Park, to be built by November 2020, on the scale of 69,500 square meters.

Social commerce operators such as Coupang and Wemakeprice will move in and operate an e-commerce system processing goods receipt, automatic sorting, small package, and direct delivery by region, all simultaneously.

By the end of this year, KRW 80 billion will be invested in establishing Kendall Square Changwon DC on the scale of 47,000 square meters to be used as an integrated logistics center for LG Electronics.

Kendall Square Changwon DC will be operated as an integrated logistics center that stores home appliances produced by Changwon LG Electronics.

If the two logistics centers are established, Changwon logistics park is expected to create 1,000 jobs and Kendall Square Changwon DC 400 jobs.

Commissioner Ha Sung-Cheol of the BJFEZA said, "The high-tech logistics centers to be built in Dudong area will create 5-10 times more jobs compared to traditional warehouse-type logistics system," adding that "this investment is expected to contribute to addressing unemployment problem in the region."

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Source Text

Source: Yonhap News (May 8, 2019)

** This article was translated from Korean.

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