{"id":77420,"date":"2024-03-18T00:00:00","date_gmt":"2024-03-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/18\/dp-world-invests-usd-50-mn-to-develop-a-new-south-korean-logistics-center\/"},"modified":"2024-03-18T00:00:00","modified_gmt":"2024-03-18T00:00:00","slug":"dp-world-invests-usd-50-mn-to-develop-a-new-south-korean-logistics-center","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/18\/dp-world-invests-usd-50-mn-to-develop-a-new-south-korean-logistics-center\/","title":{"rendered":"DP World invests USD 50 mn to develop a new South Korean logistics center"},"content":{"rendered":"

UAE-based port operator DP World is set to develop a new USD 50 mn logistics center in <\/strong>South Korea\u2019s Busan New Port<\/strong>, according to a statement<\/a> released on Friday. Construction on the DP World Busan Logistics Centre (BLC) is slated to begin at the end of the year with operations kicking off by 2Q 2026, the statement notes.<\/p>\n

What we know: <\/strong>BLC will cover 75k sqm and have the capacity to process some 80k TEUs of cargo a year by 2028. The facility will provide assembly, processing, and packaging to local and regional customers while specializing in the handling of key South Korean exports including cars, automotive parts and materials, fishery equipment, and machinery, the statement said.<\/p>\n

Why is this important?<\/strong> The new facility will bolster end-to-end supply chain offerings for DP\u2019s South Korean clients and boost Busan New Port\u2019s positioning as a key supply chain hub and as an enabler for intra-Asian trade, CEO and Managing Director of DP World Asia Pacific Glen Hilton said in the statement. <\/p>\n

It\u2019s a family affair: <\/strong>DP World\u2019s latest investment will see BLC\u2019s operations integrated with DO World subsidiary Pusan Newport Company<\/a> \u2019s freight handling solutions and South Korean multimodal transport and rail outfit Unico Logistics<\/a> logistics\u2019 rail freight, the statement said. DP World acquired a majority stake in Unico back in 2020<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Construction on the DP World Busan Logistics Centre is slated to begin at the end of the year<\/p>\n","protected":false},"author":1,"featured_media":77421,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[23,44,176,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-dp-world","tag-investment-watch","tag-logistics-zone","tag-uae","wpautop","entry"],"acf":{"mongo_id":"db3a19b2-7a6a-4dbc-b399-59afa988b6df","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1441.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP 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