BGF Retail Import-Export Logistics Center Comes to Busan CU! Leading Convenience Store Attracts 170 Billion KRW Investment

Construction of 'Eco-friendly, Smart, and Overseas Export-Import' Logistics Center Confirmed in Gangseo-gu, Busan

178.2 Billion KRW Investment and 1,000 Jobs by 2024 in International Industrial Logistics City

Collaboration Expected for 2030

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A convenience store logistics center, involving an investment of around 170 billion KRW and creating over 1,000 jobs, will be established in Busan.

Busan City announced on the 19th at 3 p.m. that it will sign a Memorandum of Understanding (MOU) for a new logistics center investment with BGF Retail in the meeting room on the 7th floor of City Hall. This company operates CU, the leading convenience store brand in Korea.

The signing ceremony will be attended by Park Hyung-joon, Mayor of Busan; Lee Geon-jun, CEO of BGF Retail; and Song Gwang-haeng, Head of Investment Attraction at the Busan-Jinhae Free Economic Zone Authority.

This marks the second major corporate investment attraction since Mayor Park Hyung-joon took office, serving as an opportunity for Busan to advance as an international logistics city through investment from a company leading the domestic convenience store market.

It also enables various collaborative projects utilizing the nationwide CU convenience store network to promote the 2030 Busan World Expo bid and local specialties.

BGF Retail plans to build a new logistics center on approximately 47,000㎡ of land within the International Industrial Logistics City in Gangseo-gu, Busan, aiming for operation in the second half of 2024.

To this end, they will invest a total of 178.2 billion KRW from 2021 to 2024 and hire 1,000 new employees for operations management, on-site work, and store delivery.

Additionally, the logistics center will reorganize the store delivery system in the Yeongnam region and be used as an export forward base.

Currently, CU operated by BGF Retail has expanded into Mongolia and Malaysia, and it is expected that the Busan logistics center, equipped with automated facilities, will further accelerate the overseas market expansion of K-convenience stores.

Lee Geon-jun, CEO of BGF Retail, said, “The advanced logistics center to be built in Busan, the logistics hub of Korea, will serve as the foundation for providing the best products and services to domestic CU franchisees and customers, and will become a forward base promoting K-convenience store CU worldwide.” He added, “BGF Retail will continue large-scale investments to create quality jobs and revitalize the local economy.”

Park Hyung-joon, Mayor of Busan, said, “I thank CEO Lee Geon-jun for deciding on a large-scale investment in Busan, and I am pleased that BGF Retail, the operator of Korea’s top convenience store CU, will work alongside Busan City.” He continued, “In line with the trend of increasing single- and two-person households and the global spread of K-culture, we will harmonize BGF Retail’s network with Busan City’s administrative capabilities to collaborate in various ways.”

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