Incheon Port 'Smart Auto Valley' Development Kicks Off... IPA-Kamazon Sign Business Contract

The 'Smart Auto Valley' project to establish an advanced used car export complex at Incheon Port is set to be actively promoted.

Incheon Port Authority (IPA) announced on the 15th that it signed a business promotion contract with Camazon Co., Ltd. on the 12th.

This company is a special purpose corporation (SPC) established by the Camazon consortium (Shinyoung, Junghung Construction, AutoHub Selcar, Shindonga Construction), which was selected as the preferred business negotiation partner in January.

With the contract signing, Camazon secured the status of the operating business entity and plans to proceed with design and permit procedures to promote the Auto Valley project.

Smart Auto Valley is a project to create an eco-friendly and cutting-edge used car export cluster by investing a total of 437 billion KRW in a 398,000㎡ backland near Namhang Yeokmuseon Pier in Jung-gu, Incheon, in two phases.

The complex will include indoor and outdoor exhibition halls capable of accommodating more than 20,000 used cars, facilities for used car export companies to move in and receive support, repair shops, tuning clusters, and themed spaces.

Smart Auto Valley Bird's-eye View [Photo by Incheon Port Authority]

IPA aims to develop Incheon Port into an eco-friendly used car export hub port and achieve an annual used car export volume of 1 million units by 2030.

An IPA official stated, "Smart Auto Valley will serve as an export platform providing one-stop services for used car exports, and it is expected to add high value to Incheon Port’s used car export industry, which handles more than 80% of the domestic used car export cargo volume."

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