Daegu-Gyeongbuk Free Economic Zone Authority

Vol.26_ Newsletter - Attraction of Logistics Company LOGEN Co., Ltd. in the...

2023-09-27 15:30:47

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Attraction of Logistics Company LOGEN Co., Ltd. in the Yeongcheon High-Tech Park District

On July 27th, in the presence of Byung-sam Kim , the Commissioner of the Daegu-Gyeongbuk Free Economic Zone Authority, Lee Dal-hee, Vice-Governor of Gyeongsangbuk-do, Choi Ki-moon, Mayor of Yeongcheon City, Choi Jung-ho, CEO of LOGEN Co., Ltd., and members of the Gyeongsangbuk-do and Yeongcheon City Council, an MOU signing ceremony for Logen’s investment in the Yeongcheon High-Tech Park District was held at Yeongcheon City Hall.
Under this Memorandum of Understanding (MOU), LOGEN Co., Ltd. has committed to investing approximately KRW 125.9 billion by 2028 to develop logistics facilities across the entire site of the Yeongcheon High-Tech Park district(Logistics Site 1, 2 with an area of 37,749 square meters). This investment aims to establish an integrated logistics terminal and is expected to create approximately 930 direct and indirect jobs.
The decision by LOGEN Co., Ltd. to invest in the Yeongcheon High-Tech Park district’s logistics site is motivated by the expansion and consolidation of its terminals in the Gyeongsang region. This consolidation involves the relocation of the company's existing terminals, including Busan SUB Dong-gu, Busan), Jicheon (Chilgok-gun, Gyeongbuk), Yeongnam (Chilgok-gun, Gyeongbuk), and Daegu Terminal (Buk-gu, Daegu), to the Yeongcheon area, facilitating integrated terminal operations. Rosen Co., Ltd. aims to realize economic scale through the consolidation of these four terminals and by establishing third-party logistics (3PL) warehouses within the integrated terminal. This strategy is expected to increase revenue through outsourced operations, secure new parcel volumes in the Gyeongsang region, contribute to job creation, and promote regional economic development.