Korean logistics company LX Pantos announced Thursday that it has begun construction on a large-scale logistics center within the hinterland complex of Busan New Port, aiming to boost import-export cargo at a key logistics hub in Northeast Asia and create a strategic gateway to the emerging Arctic shipping route. Situated on a site spanning 125,720 square meters — roughly the size of 18 soccer fields — the New Port Eco Logistics Center will be the largest center of its kind in both Busan New Port and Busan North Port, and the largest nationwide in terms of total floor area at 76,083 square meters. Completion is slated for December 2026. The $80.2 million project is being developed through a consortium, with LX Pantos holding a 90 percent equity stake and LG Electronics the remaining 10 percent. With the new center, LX Pantos plans to consolidate LG Electronics’ cargo across South Gyeongsang Province and provide customized logistics solutions for clients across a wide range of industries. This mega-sized hub is expected to become a key foundation for advancing the company’s contract logistics capabilities, the company explained. “Through the New Port Eco Logistics Center, we will ensure stable import-export operations for domestic and global customers while spearheading the development of high value-added logistics services,” said LX Pantos CEO Lee Yong-ho at Thursday’s groundbreaking ceremony. "As Korea’s premier integrated logistics company, we remain committed to generating even greater cargo volumes and supporting Busan Port’s advancement to become the world’s No. 1 port.”       (ICE SEOUL)

Fonte notizia: The Korea Herald