Allcargo UL Express Terminal Opens First Logistics Center at Busan New Port

First Logistics Center Covering 10,000 Pyeong Opens in New Port Hinterland
Over 30,000 TEU of High Value-Added Cargo Expected to Be Handled Annually

Allcargo UL Express Terminal Co., Ltd., a joint venture between global logistics company Allcargo Group and ECU Worldwide, has opened its first logistics center in the Ungdong hinterland of Busan New Port and has begun full-scale operations.

On May 28, Busan Port Authority (BPA) announced, "Allcargo UL Express Terminal held an opening ceremony for its logistics center on a 34,774-square-meter site within the Ungdong hinterland and has commenced operations." The opening of this center is noteworthy as it represents an expansion of foreign investment in Busan Port amid ongoing global supply chain instability, such as the US-China trade dispute.

This project, with an investment of approximately 10 billion KRW, was promoted by the India-based Allcargo Group as part of its global strategy. Allcargo became the world's largest LCL (Less-than-Container Load) specialist by acquiring Belgium-based ECU Worldwide in 2005. ECU Worldwide currently provides sea and air transportation services through more than 300 locations worldwide.

Allcargo UL Express Terminal Co., Ltd. plans to handle more than 30,000 TEU of cargo annually at Busan New Port over the next 30 years, offering LCL, TS (transshipment), and Sea&Air multimodal transportation services. By providing high value-added logistics services linked to its global network, the company is expected to enhance Busan Port's competitiveness as a transshipment logistics hub.

Kan Jutae, Head of Operations at BPA, stated, "We will spare no administrative support to ensure that the company can settle and grow stably," and added, "We hope that Allcargo's global competitiveness will serve as a catalyst for the development of Busan Port."

Allcargo UL Express Terminal is opening a logistics center at Busan New Port.

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