Dangjin Port to Be Developed as the Largest Grain Logistics Hub in Central Region

Chungnam Province and Sungkwang Co., Ltd. Sign Agreement for Private Development of Grain Terminal
3.1 Trillion KRW Investment to Build Grain Berth and Storage Facilities

Dangjin Port in Chungnam is expected to be reborn as the largest global grain logistics complex in the central region.

On the afternoon of the 20th, Chungnam Province announced that it had signed a 'Dangjin Port Seokmun Grain Terminal Private Development Business Agreement' worth 310 billion KRW (private investment, phase 1) in the provincial government situation room, with Governor Kim Taeheum, Dangjin Mayor Oh Sunghwan, Chairman Shim Jangsik of Sungkwang Co., Ltd., and CEO Lee Dohui of Sungkwang Co., Ltd. in attendance.

According to the agreement, Sungkwang Co., Ltd. plans to establish a dedicated grain unloading and eco-friendly storage facility on a 145,000 square meter (44,000 pyeong) site within the Seokmun National Industrial Complex by 2030, which will also serve as a national food security reserve base.

The main facilities of the grain terminal will include an 80,000 DWT (dolphin) berth and a 780,000-ton silo (tower-shaped grain storage facility). There are also plans to add storage facilities with a capacity of 260,000 tons by 2030 and 520,000 tons after 2031.

Once Sungkwang begins full-scale construction of the grain terminal, it is expected to create approximately 85,000 jobs, employ 620 personnel for operations after completion, generate 10.35 billion KRW in economic effects, and yield 930 million KRW in annual tax revenue.

The province plans to provide full administrative support, such as expediting permits and approvals, and expects the project to significantly contribute to the construction of the Bay Valley Mega City and the development of Dangjin Port as an export base, both of which are key pledges of the 8th popularly elected administration.

Governor Kim Taeheum stated, "Korea's grain self-sufficiency rate is around 20%, which is the lowest among OECD countries, and as the world's 7th largest grain importer, our dependence on imports is extremely high. Therefore, expanding the grain terminal to increase storage capacity and stabilize supply to protect 'food security' is a matter of national destiny."

He added, "As of 2022, Singapore, which imports 90% of its food, ranks first in the world in food security index, and its core secret is diversification of import sources. We will actively support the Seokmun Grain Terminal so that it can become a key foundation for strengthening Korea's food security by contributing to grain imports and supply."

Lee Dohui, CEO of Sungkwang Co., Ltd., said, "We will do our best to ensure that the establishment of the Dangjin automated grain terminal and the relocation of related companies to Dangjin Port not only vitalize the local economy but also lay the cornerstone for the new Dangjin Port, which has been a 20-year aspiration of Dangjin City."

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