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.

LX Pantos holds a groundbreaking ceremony for the New Port Eco Logistics Center in Busan New Port, Sudo-dong, Jinhae District, Changwon City, Gyeongsangnam-do on the 19th. From left are Lee Sang-deok, representative of LT Sambo; Jeong Soo-dong, chairman of the Busan New Port Logistics Complex Association; Eo Jae-hyeok, head of the CL division at LX Pantos; Wang Cheol-min, vice president of LG Electronics; Lee Yong-ho, representative of LX Pantos; Lee Jong-wook, member of the National Assembly; Kim Myung-joo, vice governor of Gyeongsangnam-do; Jang Geum-yong, acting mayor of Changwon; Park Seong-ho, head of the Busan-Jinhae Free Economic Zone Authority; and Song Sang-geun, president of the Busan Port Authority. /Courtesy of LX Pantos

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.

A bird's-eye view of the LX Pantos New Port Eco Logistics Center. /Courtesy of LX Pantos

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."