Yeosu Gwangyang Port Authority Holds Sales Briefing for Yulchon Convergence Complex

by Heo Seonsik

Published 20 Dec.2023 16:09(KST)

Updated 14 Aug.2025 22:15(KST)

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Phase 1 Site Sale and Project Progress Status Explanation

Yeosu Gwangyang Port Authority (President Park Seong-hyun, hereinafter referred to as the Authority) announced on the 20th that it held a briefing session on the sale of the first phase site of the Gwangyang Port Yulchon Convergence and Complex Logistics Complex Development Project.

This briefing session was organized to inform about the main sales details and the current progress of the project for the sale of four lots totaling 610,000㎡ in the first phase out of the entire project site of approximately 3.31 million㎡. About 70 people from 22 companies and organizations, including Yeosu City, Gwangyang Bay Area Free Economic Zone Authority, LG Chem, Hanwha Solutions, Lotte Chemical, GS Caltex, and local small and medium enterprises, attended.

[Photo by Yeosu Gwangyang Port Authority]

The briefing session proceeded with an introduction of the project overview, schedule and eligibility, evaluation plan, contract signing, and written inquiry methods for the Gwangyang Port Yulchon Convergence and Complex Logistics Complex Development Project, followed by a Q&A session.

In particular, it was explained that the method for selecting the preferred negotiation candidate for the site is through an open competitive bidding process, where the highest scorer is determined by evaluating and combining the price score and the business proposal.

Additionally, the project is a long-term project until 2030, with plans to promote the sale of the second and third phase sites step by step. The Authority also plans to continuously manage companies wishing to move in to encourage ongoing interest and participation.

Park Seong-hyun, President of Yeosu Gwangyang Port Authority, said, “We will do our best to revitalize the Gwangyang Bay area through successful sales and to supply insufficient industrial land in a timely manner by putting customers first.”