Gwangyang Port Hinterland Secures 300,000㎡ Site

Gwangyang Port Hinterland Development Plan Change Completed

140,000㎡ Priority Supply in Q1

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Yeosu Gwangyang Port Authority (President Park Seong-hyun) announced that the modification of the development plan for the Gwangyang Port hinterland complex has been completed, securing a new 300,000㎡ of project land.

With the completion of the conversion of idle land within the Gwangyang Port hinterland complex into lease land, which the authority has been promoting since July last year, the supply of the hinterland complex, which was facing imminent depletion of project land, is expected to ease.

Since last year, Gwangyang Port has been experiencing a shortage of storage space for import and export containers due to disruptions in the global logistics supply chain. Additionally, the container terminal operators at Gwangyang Port have a higher container dwell rate compared to normal years, strengthening the importance of logistics storage functions in the hinterland complex.

The newly secured land consists of 110,000㎡ on the east side, 100,000㎡ on the west side, and 80,000㎡ on the north side. The authority announced that it will issue a recruitment notice for tenant companies for about 140,000㎡ across 10 zones on the immediately available east and west sides within this month, and plans to complete the selection of preferred negotiation candidates within the first quarter.

Lee Jang-mok, head of the logistics complex division at the authority, said, "After recording 980,000 TEU of cargo volume in the hinterland last year, the land shortage problem has intensified, but we believe this can be somewhat alleviated." He added, "To sustain last year’s performance, we will attract outstanding companies in the first half of the year and continue to expand cargo volume and job creation."

Meanwhile, the third modification of the port hinterland complex development plan is expected to be finalized and officially announced by being published in the government gazette on the 10th. With this change, the authority plans to accelerate the development of the northern hinterland complex and simultaneously carry out land development work to provide the east and west hinterland complexes as sites for integrated logistics and manufacturing facilities.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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