BGF Retail to Build 100,000㎡ Logistics Center in Busan City

[Asia Economy Reporter Lim Chun-han] BGF Retail announced on the 19th that it will build a new logistics center with a total floor area of 100,000㎡ in the International Industrial Logistics City in Gangseo-gu, Busan, aiming for operation in the third quarter of 2024. This is about twice the size of the existing BGF Retail Central Logistics Center located in Jincheon, Chungcheongbuk-do, with a total investment of 178.2 billion KRW from this year through 2024.

On the same day, BGF Retail signed a business agreement with Busan City and the Busan-Jinhae Free Economic Zone Authority to establish the logistics center in the International Industrial Logistics City in Gangseo-gu, Busan. Through this agreement, they plan to contribute to revitalizing the local economy by ▲creating local jobs through the construction of the logistics center ▲discovering cooperative projects linked to local industries ▲developing win-win cooperation models with local small business owners.

The construction of the Busan logistics center represents BGF Retail’s largest logistics investment to date, expected to create over 1,000 local jobs once fully operational. Additionally, by utilizing the Busan logistics center equipped with advanced automation facilities, they plan to efficiently reorganize the store delivery system in the Yeongnam region and also use it as an overseas export forward base to deliver products to stores located abroad, such as in Mongolia and Malaysia.

Lee Geon-jun, CEO of BGF Retail, said, “The advanced logistics center to be built in Busan, the logistics hub of Korea, is expected to become CU’s new competitive edge providing the best products and services, as well as a global hub promoting K-convenience stores worldwide.” He added, “We will continue to make large-scale investments to create quality jobs and promote the revitalization of the local economy.”

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