The government plans to invest 4.5 trillion won by 2030 to expand the number of overseas public-supported logistics centers to 40 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 and 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 Export and Import Economy.’
The government will prioritize investments in storage and handling facilities such as warehouses and container yards in key overseas logistics hub countries. The number of public-supported logistics infrastructure supported by the Korea Ocean Business Corporation and port authorities will be rapidly increased from the current nine to 40 by 2030. Additionally, a 1 trillion won global container terminal investment fund will be created to secure shares in overseas terminals, with plans to eventually secure terminal operating rights.
In the review stage of overseas expansion, the Ministry of Oceans and Fisheries will provide market information for regions with high interest and demand from logistics companies. The limit for local feasibility study and consulting support will be increased to 200 million won. In the investment stage, the Korea Ocean Business Corporation will expand the limit of the global logistics supply chain investment fund to 2 trillion won, with 300 billion won of the additional 1 trillion won allocated as a blind fund for small and medium-sized logistics companies’ overseas investments. In the settlement stage, the public sector will address issues such as local regulations, securing shippers, and hiring personnel, and will hold related public-private joint briefings.