Incheon Bukhang North-Side Hinterland Fully Operational... Establishment of Wood Cluster

Incheon Bukhang Hinterland Complex Panorama

[Asia Economy Reporter Park Hyesook] The northern hinterland area of Incheon North Port (Wolchandong, Seo-gu) has officially started operations.

Incheon Port Authority (IPA) announced on the 6th that SSMAC Co., Ltd. has completed the construction of a factory and logistics center in the northern hinterland area of North Port and has begun operations.

Previously, IPA developed a 172,523㎡ site in the northern hinterland area of Incheon North Port, including green spaces and roads, and from June to December 2020, sequentially selected a total of seven tenant companies.

Among the tenant companies, SSMAC, which started operations first, is a company that imports and distributes plywood and wood materials. Going forward, it plans to process wood imported through Incheon North Port into eco-friendly building materials for sale.

IPA expects that the commencement of SSMAC's operations will have a positive impact on increasing wood cargo volume at Incheon Port and revitalizing wood distribution logistics in the metropolitan and central regions.

The remaining six wood-related companies, including Myeongrim Wood, Hansong Wood, and Udin, are scheduled to start operations in the first and second halves of this year, with three companies each.

IPA anticipates that upon the full opening of the northern hinterland area of North Port, there will be a long-term cargo volume of 66,963 TEU (1 TEU equals one 20-foot container) and employment creation of 1,371 people.

An IPA official stated, "Most of the companies located in the southern hinterland area of North Port, which has been operating since 2013, are also engaged in wood-related businesses," adding, "We plan to actively support the North Port hinterland area to establish itself as a wood-specialized cluster."

Meanwhile, the total area of Incheon Port's hinterland sites amounts to 3,903,000㎡, including 652,000㎡ at New Port, 557,000㎡ at Aam Logistics Complex 2, 172,000㎡ at North Port North Side, 564,000㎡ at North Port South Side, and 961,000㎡ at Aam Logistics Complex 1.

Last year, the cargo volume handled at Incheon Port's hinterland sites reached a record high of 477,000 TEU, generating a hinterland cargo volume added value of 211.6 billion KRW. This year, the cargo volume target for Incheon Port's hinterland sites is 540,000 TEU.