LH to Supply 149,000㎡ of Nationwide Rental Industrial Complexes This Year

(Data=LH)

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 12th that it will supply 149,000㎡ of nationwide rental industrial complexes this year.

Rental industrial complexes are industrial complexes leased at low rent for a long period to small and medium-sized enterprises, foreign-invested companies, and overseas returnee companies. Tenant companies can lease the site for up to 50 years in 5-year increments, and the annual rent is 1 to 3% of the sale price.

The industrial complexes to be supplied include ▲ Pohang Blue Valley (50,000㎡) ▲ Seokmun (37,000㎡) ▲ Gwangju Advanced 2 (32,000㎡) ▲ Osan Gajang 2 (14,000㎡) ▲ Chungju (8,000㎡) ▲ Jeongeup Advanced (4,000㎡) ▲ National Food (4,000㎡), among others.

Among them, Pohang Blue Valley, which has the largest supply volume, has a rent of 5,600 KRW per 3.3㎡, which is about 1% of the sale price.

Meanwhile, since July last year, LH has been reducing the rent by 25% for tenant companies in rental industrial complexes that are experiencing difficulties in business management such as decreased sales and employee employment due to the prolonged COVID-19 pandemic.

In addition, to support small and medium logistics companies that need to expand logistics infrastructure after COVID-19, a public logistics center will be built within the Cheonan Logistics Complex. The logistics center will be a three-story building above ground and is scheduled to begin construction in November.

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