Gimcheon-si Successfully Attracts 'Coupang' Logistics Center... 100 Billion KRW Investment on 27,000 Pyeong Site

Expecting Creation of Up to 1,000 New Jobs

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Coupang, the number one e-commerce company in South Korea, will establish an advanced logistics center around 2021 in the Gimcheon General Industrial Complex.

On the morning of the 11th, Gimcheon City and Gyeongbuk Province signed a memorandum of understanding for investment to build the advanced logistics center at the city hall auditorium, attended by Governor Lee Cheol-woo, Mayor Kim Choong-seop, Coupang CEO Park Dae-joon, and about 40 others.

Under this investment agreement, Coupang plans to invest approximately 100 billion KRW over two years starting next year to build the advanced logistics center on a 27,000-pyeong (89.25㎢) site in the Gimcheon 1 General Industrial Complex (Phase 3). Up to 1,000 employees required for operation will be primarily recruited from local residents.

Once the advanced logistics center is fully operational, it is expected to support the Daegu and Daejeon logistics centers while serving as a hub for logistics and distribution in the western and northern regions of Gyeongbuk. Gimcheon City expects significant synergy effects in enhancing the competitiveness of local companies by reducing logistics costs and promoting co-growth of related industries during the construction and operation of the logistics center.

Park Dae-joon, CEO of Coupang, said, "Thanks to the efforts of Gimcheon City and Gyeongbuk Province to create a business-friendly environment, we were able to establish an advanced logistics center in Gimcheon to provide customers with faster Rocket Delivery service. Coupang will continue to strive to contribute to the local economy."

Mayor Kim Choong-seop welcomed the development, stating, "In line with Coupang’s innovation, our city will spare no administrative support from the designation of the e-commerce special zone to one-stop support for factory establishment, covering everything from the construction to the operation of the logistics center."

Meanwhile, Mayor Kim Choong-seop succeeded in attracting Coupang’s advanced logistics center amid the economic downturn caused by the COVID-19 pandemic by conducting prior coordination and personally visiting Coupang headquarters in July to deliver an investment proposal, resulting in this achievement.

This content was produced with the assistance of AI translation services.