DP World announces a $50 million investment to construct a new logistics center at Busan New Port, aiming to bolster the port’s status as a key logistics hub in Northeast Asia.
DP World, a leading terminal operator, unveils plans for a significant investment of $50 million to establish a cutting-edge logistics center at Busan New Port. The initiative aims to fortify the port’s position as a pivotal logistics hub in Northeast Asia while enhancing the global stature of the broader Busan-Jinhae Free Economic Zone (BJFEZ).
Construction of the state-of-the-art facility, spanning 75,000 square meters of land, is slated to commence by the end of 2024. Operations are anticipated to kick off by the second quarter of 2026. Dubbed the DP World Busan Logistics Centre (BLC), the facility is designed to handle nearly 80,000 TEU (twenty-foot equivalent unit) of cargo annually by 2028. It will offer a comprehensive range of services, including assembly, processing, and packaging, catering to the needs of both local and regional customers.
Glen Hilton, CEO of DP World Asia Pacific, emphasised the strategic significance of the DP World Busan Logistics Centre in consolidating Busan New Port’s role as a vital supply chain hub for the Asia Pacific region. He highlighted the center’s potential to empower local and international businesses to capitalise on the burgeoning opportunities in intra-Asia trade.
DP World already boasts a notable presence in South Korea, operating the largest terminal in the Port of Busan through its subsidiary, Pusan Newport Company (PNC). Additionally, in 2020, DP World acquired a majority stake in UNICO Logistics, a Korean multimodal transport and rail specialist, further strengthening its foothold in the Korean market.
