Construction of an Integrated Logistics Center
on a 94,938 m² Site in Phase 2 of the Ungdong Hinterland Complex in Jinhae
The Busan-Jinhae Free Economic Zone Authority, led by Commissioner Park Seongho, has successfully attracted a large-scale investment from the nation’s leading logistics company.
On October 28, at the Westin Chosun Seoul Hotel, the Authority announced that it had signed a memorandum of understanding (MOU) for an investment worth 180 billion won with Gyeongsangnam-do Province, Changwon Special City, and Hyundai Glovis Co., Ltd. during the Gyeongsangnam-do Investment Promotion Briefing.
Key figures attending the signing ceremony included Kim Myeongju, Vice Governor for Economic Affairs of Gyeongsangnam-do, Jang Geumyong, Acting Mayor of Changwon Special City, Park Seongho, Commissioner of the Busan-Jinhae Free Economic Zone Authority, and Lee Kyubok, CEO of Hyundai Glovis.
On the 28th, the investment agreement signing ceremony with Hyundai Glovis Co., Ltd. was held at The Westin Chosun Seoul Hotel. Park Seongho (far right), Director of Busanjinhae Free Economic Zone Authority, is taking a commemorative photo.
The parties agreed to actively cooperate to promote mutual benefits, including the smooth implementation of corporate investments, revitalization of the local economy, and the creation of quality jobs.
Hyundai Glovis is the top integrated logistics company in Korea, operating in over 40 countries worldwide and maintaining logistics bases in China, India, North America, and Europe. Under this investment agreement, the company plans to build a logistics center on a 94,938 square meter (approximately 28,719 pyeong) site-equivalent to 13 soccer fields-in Phase 2 of the Ungdong Hinterland Complex in the Busan-Jinhae Free Economic Zone. This project is expected to create dozens of new jobs.
This agreement is regarded as a strategic investment by Hyundai Glovis to secure a global port transport hub at the Busan New Port and to reorganize a stable logistics supply chain. The new logistics center is scheduled to break ground in the first half of next year and aims for completion and opening in the second half of 2027. It will be equipped with state-of-the-art logistics facilities and systems to provide high value-added logistics services, such as cargo collection, sorting, labeling, and packaging.
Hyundai Glovis exclusively manages logistics for Hyundai Motor Group and has secured competitiveness through its efficient logistics system and eco-friendly strategies.
Since last year, the Authority has engaged in ongoing practical consultations with Hyundai Glovis, including site selection. In particular, the Authority plans to expand collaboration by leveraging the geographical advantages of Busan New Port and connecting development plans for Jinhae New Port and Gadeokdo New Airport, aiming to establish the region as a global logistics network hub.
With this agreement, Hyundai Glovis, the largest integrated logistics company, is making a full-scale entry into the hinterland complex of Busan New Port. This marks a turning point, transforming the area from a storage-focused hinterland into a high value-added integrated logistics hub.
Commissioner Park Seongho emphasized, "Partnering with Hyundai Glovis, which has experience operating Arctic shipping routes and a global maritime network, is not just about collaborating with a single company-it is the beginning of shaping the future of Korea’s logistics industry. With Hyundai Glovis’s investment, we will encourage further investments from domestic and international logistics companies, taking a leap forward as a global logistics innovation hub where companies and the region grow together."
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