Koramco Asset Management announced on the 5th that the 'Gyeongsan Complex Logistics Center' (hereinafter referred to as the Gyeongsan Complex Logistics Center), which serves as CJ Olive Young's logistics hub outside the metropolitan area, has officially begun operations.
The Gyeongsan Complex Logistics Center is the largest rental complex logistics center in the Yeongnam region, where Koramco invested approximately 320 billion won in July 2022 and completed development in June last year. Located in Muncheon-ri, Jinlyang-eup, Gyeongsan-si, North Gyeongsang Province, this logistics center is a multi-purpose facility with a size of 196,943 square meters (approximately 59,575 pyeong), consisting of two underground floors and six above-ground floors, featuring frozen, refrigerated, and room temperature storage. According to the company, this allows for handling of all products, including general products, food and beverages, and food materials. Additionally, it is situated within the logistics support site of the Gyeongsan 4 General Industrial Complex, strategically developed by the Korea Industrial Complex Corporation, enabling a wide response to logistics demand in Daegu, North Gyeongsang Province, Busan, Ulsan, and Gyeongnam as well as in the Honam region.
CJ Olive Young plans to entrust logistics supply for over 600 stores in regions including Yeongnam, Chungcheong, Honam, and Jeju to the Gyeongsan Complex Logistics Center. The existing Yangji Center and Anseong Center will focus on metropolitan logistics and online logistics. Utilizing the Gyeongsan Complex Logistics Center is expected to increase CJ Olive Young's overall logistics capability (CAPA) by more than 50% compared to before, enabling the shipment of up to 3 million products to nationwide stores daily.
In addition to CJ Olive Young, major logistics companies such as LOTTE Global Logistics and BGF Retail are leasing space at the Gyeongsan Complex Logistics Center as logistics hubs in the Yeongnam region. The spacious standardized floor area of approximately 29,000 square meters (about 8,700 pyeong) per floor and a structure conducive to installing the latest logistics automation equipment allow for a wide range of product responses.
Kim Tae-won, head of the domestic real estate division at Koramco Asset Management, noted, “While the logistics demand in Daegu and the Yeongnam region is steadily increasing, the logistics infrastructure is relatively lagging compared to the metropolitan area,” adding, “The Gyeongsan Complex Logistics Center will contribute to addressing the lack of logistics facilities in the Yeongnam region and will become a key facility supporting same-day delivery services south of the metropolitan area.”