On the 19th, comprehensive logistics company LX Pantos announced that it will build a super-sized logistics center in the Busan New Port hinterland, the size of 18 soccer fields.
On the same day, LX Pantos held a groundbreaking ceremony for the New Port Eco Logistics Center in the Busan New Port hinterland, located in Jinhae-gu, Changwon, Gyeongsangnam-do.
The LX Pantos New Port Eco Logistics Center will be built on the backland of the Busan New Port's western container terminal. Busan Port serves as an international logistics hub in Northeast Asia, handling the world's second-largest transshipment volume and the seventh-largest container volume. It is also gaining attention for its role as a gateway for entering the Arctic route connecting Asia and Europe.
The logistics center site covers an area of 125,720 square meters (㎡), equivalent to 18 soccer fields. It is the largest overall area in Busan Ports' New and North Ports, and based on floor area (76,083㎡), it is the largest logistics center in Korea. It is scheduled for completion in December next year.
LX Pantos and LG Electronics invested 90% and 10% equity, respectively, in the construction of the New Port Eco Logistics Center. The total project cost is 110 billion won. LX Pantos explained that it is a rare case where logistics companies participate in the construction of a logistics center in a consortium form, representing a strategic collaboration model between logistics and shipper companies.
LX Pantos stated that it plans to utilize the new logistics center to integrate the logistics of LG Electronics in the Gyeongnam region and provide tailored services to various industry customer logistics demands. It aims to secure a super-sized logistics center in an import and export logistics hub as a stepping stone to strengthen its capabilities in contract logistics (CL).
LX Pantos CEO Lee Yong-ho said, "We will reliably operate the import and export logistics of domestic and foreign customers through the largest New Port Eco Logistics Center in the Busan New Port hinterland and take the lead in developing high-value-added logistics services."