IPA Selects 'LogisValley HTNS' as Preferred Negotiator for E-Commerce Specialized Zone

Incheon Port Authority (IPA, President Choi Jun-wook) announced that it signed the 'Business Promotion Agreement for Occupancy in the E-Commerce Specialized Zone of Incheon Port Aam Logistics Complex 2' with LogisValley HTNS. The E-Commerce Specialized Zone is a location designated by the Ministry of Oceans and Fisheries in August last year to foster Incheon Port as an e-commerce specialized port.

LogisValley HTNS is a company selected in July as the preferred negotiator for occupancy regarding E-Commerce Parcel 1 (spanning 46,753 m²) within the Incheon Port E-Commerce Specialized Zone, and after a total of three rounds of negotiations, agreed on detailed items such as △lease-related conditions, △environment and safety management, △maintenance and management of tenant facilities, and △tenant facility requirements.

According to Incheon Port Authority, LogisValley HTNS, having signed this business promotion agreement, is converted to an official target tenant enterprise and, after going through procedures such as relevant permits/approvals and lease agreements, will break ground on the specialized logistics center in the first half of next year. The specialized logistics center is planned to be operated for e-commerce transshipment cargo transport and as a global distribution center (GDC).

Incheon Port Authority is focusing on creating a specialized cargo logistics park to establish its position as an e-commerce specialized port. Once the specialized logistics center begins full-scale operations in 2024, cargo volume is projected to average over 22,000 TEU annually, and job creation is expected to reach over 500 people.

Kim Jong-gil, Vice President of Operations at Incheon Port Authority, stated, "Incheon Port Aam Logistics Complex 2 has passed its first gateway toward leaping forward as an e-commerce specialized hub port," adding, "We will work to enhance Incheon Port's logistics competitiveness by preparing various measures to actively support relevant tenant companies in line with the explosive growth trend of e-commerce cargo at Incheon Port."

The 570,000 m² Aam Logistics Complex 2 is a port hinterland park constructed with a total project budget of 329.1 billion KRW, and currently, the creation of Phase 1 Area 1 (670,000 m²) has been completed and is recruiting tenant companies.