Ido Co., Ltd. Operates 14,700t Cold Storage Warehouse at Northeast Asia Seafood Hub

[Asia Economy Reporter Lim Jeong-su] YIDO Co., Ltd., the only infrastructure and real estate value-up platform company in Korea, announced on the 16th that it has commenced the full operation of the cold logistics standard factory and refrigerated and frozen warehouse, which are key components of the cold chain hub construction project in the Donghae Free Trade Zone.

YIDO explained that it was selected as the preferred negotiator for the Donghae cold logistics standard factory by the Donghae Free Trade Zone Authority under the Ministry of Trade, Industry and Energy in August last year, and has started full-scale operations from today. The cold logistics standard factory was completed in April 2020 with a government budget of 25.1 billion KRW. This project aims to build a cold chain hub that stores and processes seafood from Donghae and Russia, connecting sales networks to the domestic market as well as China and Japan.

The facility covers a total area of 10,206 square meters and is equipped with state-of-the-art automated frozen warehouses and seafood processing plants in a building spanning from one basement floor to four above-ground floors. The storage capacity reaches approximately 14,700 tons (12,320 pallets), and it also features a spacious parking area for a total of 90 vehicles, including 35 trucks.

Most importantly, being close to the existing Donghae Port and Donghae New Port allows companies using this facility to secure stable fishery resources imported from nearby Donghae and Russia at more competitive prices. Furthermore, the operation of the cold logistics standard factory is expected to partially resolve difficulties faced by seafood processing companies in the Donghae region, which have struggled with raw material storage and product processing due to a shortage of frozen warehouses.

YIDO plans to promote △ operation of processing plants to increase exports △ enhancement of added value and price competitiveness of products produced in the Donghae area △ increased employment of local talent, thereby contributing to the development and revitalization of the Donghae region.

In recognition of its contribution to the activation of the Donghae Free Trade Zone, YIDO’s CEO Choi Jeong-hoon received a commendation from the Ministry of Trade, Industry and Energy. CEO Choi stated, "YIDO is the industry’s leading company in efficiently and stably integrating and managing infrastructure facilities such as private expressways, public tunnels, and bridges. We will strengthen our expertise by expanding operations not only in cold frozen warehouses but also in port management in the future."