KDB Industrial Bank Completes Financing Arrangement for Largest Single-Building Logistics Center in Korea

Supporting the Korean New Deal Policy through the Establishment of a Digital Logistics Service System

The Korea Development Bank (KDB) headquarters in Yeouido, Seoul, which GM's headquarters referred to as the 'deadline' for Korea GM's court receivership on the 20th, is showing a quiet appearance. KDB is the second-largest shareholder, holding 17% of Korea GM's shares. However, out of the 10 board members, only 3 represent KDB, so it seems difficult to prevent GM headquarters from forcibly proceeding with court receivership. Lee Dong-geol, chairman of KDB, stated that if GM headquarters unilaterally hands Korea GM over to court receivership, they will take legal action such as lawsuits. Photo by Moon Honam munonam@

[Asia Economy Reporter Kangwook Cho] On the 8th, the Korea Development Bank announced that it has completed equity investment (1.7 billion KRW, 10% stake) and financial arrangement of PF loans (532 billion KRW) for the logistics center development project, which is the largest single-building logistics center in Korea (130,000 pyeong).

The project, promoted by KP Logistic PFV Co., Ltd. in Wonnchang-dong, Seo-gu, Incheon, includes major shareholders such as Korea Asset Trust Co., Ltd., a trust company affiliated with MDM Group, the largest domestic developer, and Platinum Asset Co., Ltd., a logistics-specialized operator, in addition to the Korea Development Bank.

Seven major domestic financial institutions, including the Korea Development Bank, Saemaeul Geumgo, Teachers' Pension, Industrial Bank of Korea, Military Mutual Aid Association, IBK Capital, and KDB Capital, participated in the PF loan.

Global asset management company Brookfield Asset Management secured the stability of this project by signing a pre-sale contract to purchase the logistics center after completion.

The logistics center, as the largest single-building logistics center in Korea, is expected to serve not only as a hinterland logistics complex for Incheon International Airport and Incheon North Port but also as a hub for major logistics in Seoul and the metropolitan area, including dawn delivery and daily life logistics.

So far, the Korea Development Bank has actively supported various logistics center development projects as well as logistics complex development projects to establish a digital logistics service system.

Over the past two years, it has supported 8 projects including logistics complex development, logistics center development, and operation with 1.8277 trillion KRW (based on arranged amount), contributing to the advancement and smartization of the domestic logistics industry.

An official from the Korea Development Bank said, "As the domestic logistics market size gradually expands due to the activation of online and same-day delivery, we plan to continuously support the Korean New Deal policy through the establishment of a digital logistics service system," adding, "We will expand our role as a catalyst to activate investments by domestic developers in large-scale logistics center development projects."