The government plans to invest 4.5 trillion won by 2030 to expand overseas public-supported logistics centers to 40 locations in order to secure global logistics hubs. Additionally, a full-cycle support system for logistics companies entering overseas markets will be established, and the functions and roles of port authorities and the Korea Ocean Business Corporation will be strengthened to enhance overseas business support capabilities.
On the 16th, the Ministry of Oceans and Fisheries announced the ‘Global Logistics Supply Chain Hub Strategy’ at the Industrial Competitiveness Enhancement Ministers’ Meeting to support export-import logistics stably despite global supply chain uncertainties. The ministry aims to expand 40 overseas public-supported logistics bases, secure 10 overseas port terminals, and foster three of the top 50 global logistics companies by 2030 under the vision of ‘Securing Global Logistics Supply Chain Hubs to Support the Export-Import Economy.’
The government will prioritize investment in storage and handling facilities such as logistics warehouses and container yards in key overseas logistics hub countries. The plan is to quickly increase the number of public-supported logistics infrastructure facilities supported by the Korea Ocean Business Corporation and port authorities from the current nine to 40 by 2030. In the short term, a 1 trillion won global container terminal investment fund will be created to secure shares in overseas terminals, with the goal of eventually securing terminal operating rights.
In the review stage of overseas expansion, the Ministry of Oceans and Fisheries will prioritize providing market information for regions with high interest and demand from logistics companies. In the investment stage, the Korea Ocean Business Corporation will expand the limit of the global logistics supply chain investment fund from 1 trillion won to 2 trillion won to alleviate companies’ funding difficulties, with 300 billion won of the additional 1 trillion won allocated to a blind fund dedicated to overseas investments by small and medium-sized logistics companies.