LX Inter to Build Eco-Friendly Complex Logistics Center in Busan Equivalent to 30 Soccer Fields

[Asia Economy Reporter Kiho Sung] LX International is set to build an eco-friendly complex logistics center in Busan with a total floor area of approximately 216,000㎡ (about 65,000 pyeong), equivalent to the size of 30 soccer fields. The company plans to actively develop the logistics center development and operation business as a new growth engine and new source of revenue.

On the 23rd, LX International held a board meeting at its headquarters in Jongno-gu, Seoul, and approved an agenda to establish a subsidiary, Eco & Logis Busan, with the purpose of promoting the eco-friendly logistics center development and operation business, investing 45 billion KRW.

This project, with a total budget of 350 billion KRW, involves developing and operating a logistics center in the International Industrial Logistics City in Gangseo-gu, Busan, on a site area of 59,969㎡ (about 18,000 pyeong) and a total floor area of 216,369㎡ (about 65,000 pyeong), consisting of one basement floor and five above-ground floors. The design and permits are scheduled to be completed by the first half of next year, with completion and operation targeted for the first half of 2025.

Previously, in November last year, LX International signed a tripartite memorandum of understanding on mutual cooperation and investment with Busan City and the Busan-Jinhae Free Economic Zone Authority. LX International will focus on establishing and investing in the logistics center and creating local employment, while Busan City and the Busan-Jinhae Free Economic Zone Authority will actively support necessary administrative procedures such as permits related to the project implementation.

LX International plans to develop the Busan logistics center as an 'eco-friendly complex logistics center' based on its strategy to expand investments centered on eco-friendliness.

The plan includes energy savings using renewable energy, creating a clean working environment with eco-friendly finishing materials, and establishing a safe working environment through advanced monitoring systems. Additionally, the center will operate both ambient and cold storage warehouses, and partnerships with companies specializing in cold chain (low-temperature logistics warehouses) are being considered.

Kim Junhyung, General Manager of LX International’s Green Business Division, stated, “The logistics market in Busan and the Gyeongsang region has the largest potential demand in the country, and the demand for new large-scale logistics centers is expected to increase. Especially, the site of this logistics center in the Busan International Industrial Logistics City is a hinterland complex of Busan New Port, offering excellent wide-area accessibility to all parts of the country, including Seoul and the metropolitan area.”

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