The government plans to invest 4.5 trillion won by 2030 to expand overseas public-supported logistics centers to 40 locations to secure global logistics hubs. Additionally, a full-cycle support system for overseas logistics companies, from review to investment and settlement, will be established, and the functions and roles of port authorities and the Korea Ocean Business Corporation will be strengthened.
The Ministry of Oceans and Fisheries announced the ‘Global Logistics Supply Chain Hub Strategy’ at the Industrial Competitiveness Enhancement Ministers’ Meeting to support stable export and import logistics amid global supply chain uncertainties. The ministry aims to secure 40 overseas public-supported logistics bases, 10 overseas port terminals, and nurture three of the top 50 global logistics companies by 2030.
The government will prioritize investments in storage and handling facilities such as logistics warehouses and container yards in key overseas logistics hub countries. The Korea Ocean Business Corporation and port authorities will increase the number of public-supported logistics infrastructure 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 public sector will provide market information for regions of high interest and demand to logistics companies, and the support limit for local feasibility studies and consulting will be increased to 200 million won. In the investment stage, the Korea Ocean Business Corporation will expand the global logistics supply chain investment fund to 2 trillion won and create a blind fund for small and medium-sized logistics companies’ overseas investments. In the settlement stage, the public sector will support logistics companies in addressing local regulations, securing shippers, and hiring personnel.