Hong Yong-jun (right), CEO of Coupang Logistics Service, and Busan Mayor Jeon Jae-soo (left) pose for a photo after signing an investment MOU on Thursday. [Coupang]
Hong Yong-jun (right), CEO of Coupang Logistics Service, and Busan Mayor Jeon Jae-soo (left) pose for a photo after signing an investment MOU on Thursday. [Coupang]

Coupang Logistics Service (CLS) announced Friday it will invest about 42 billion won ($31.4 million) to build a new smart logistics center in Busan.

CLS signed an investment MOU with Busan Mayor Jeon Jae-soo on Thursday at the Conrad Seoul hotel, during a Greater Seoul investment attraction briefing organized by the city of Busan. The agreement, part of Busan's policy to attract regional investment and create jobs, was signed alongside two other companies.

Under the MOU, CLS will build the smart logistics center in Yongdang-dong, Nam-gu, Busan. The new facility will occupy four of eight floors — covering about 44,000 square meters — within a larger logistics complex spanning roughly 100,000 square meters. The company aims to begin a pilot operation before the end of the year.

The center will serve as a key logistics hub for the Busan area, combining freight processing and delivery functions in an AI-based complex. The project is also expected to create about 670 direct and indirect jobs. Busan city will provide administrative support to ensure the project proceeds smoothly.

CLS has steadily expanded its logistics infrastructure with investments across major regions nationwide, including Daegu, Jincheon, Chilgok, Gimhae and Jangseong. "Through this investment in Busan, we will contribute to revitalizing the local economy and creating jobs, while further strengthening our customer service competitiveness," CLS CEO Hong Yong-jun said.

Busan Mayor Jeon said CLS's investment decision "demonstrates Busan's logistics competitiveness and growth potential as the maritime capital," adding that the city would "actively support the smooth progress of the project."


korean@heraldcorp.com