Gyeonggi Hwaseong 'Seokpo Logistics Center' Secures 43 Billion Won Funding
[Asia Economy Reporter Lim Jeong-su] Funding worth 43 billion KRW has been secured for the development of the Seokpo Logistics Center near the Seokpo Industrial Complex in Hwaseong, Gyeonggi Province.
According to the investment banking (IB) industry on the 2nd, the developer Pivot Plus Co., Ltd. raised 43 billion KRW in funds under the management of Korea Investment & Securities. The loan has a maturity of 6 months with a lump-sum repayment condition at maturity.
Pivot Plus is the developer promoting the logistics center development project on the site at 147-12, Seokpo-ri, Jangan-myeon, Hwaseong-si, Gyeonggi Province. After acquiring the site, they plan to construct and sell a logistics center with 2 basement floors and 3 above-ground floors.
The funds raised this time will be used to repay existing borrowings and other purposes.
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