Opening of Logistics Center to Support Small- and Medium-sized Enterprises in LA, USA

-Providing stable logistics services at low cost to Korean small- and medium-sized enterprises (SMEs)

 The Ministry of Oceans and Fisheries (MOF) and Busan Port Authority announced that they will open a public-private joint logistics center near the Port of Los Angeles and Long Beach in the United States.

 MOF is implementing a joint project to build overseas logistics centers with port authorities, Korea Ocean Business Corporation, and others as part of the global supply chain's reorganization. It has built four logistics centers including Java in Indonesia, Rotterdam in Netherlands, and Barcelona in Spain, and it will operate its first US logistics center in Western United States near the LA/LB ports.

 The United States is the world's largest consumer market and Korea's second-largest export trading partner. Due to recent changes in the US supply chain policy, trade with the US and companies operating locally is expected to increase further.

 Accordingly, MOF and Busan Port Authority have decided to build a logistics center near the LA and LB ports—which handle the largest volume of container cargo from Korea—and support Korean companies’ advancement into the US market in line with the reorganization of the global supply chain.

 Established jointly by Busan Port Authority and Joo Sung Sea & Air, the LA/LB Logistics Center has a lot area of 17,035㎡ and a warehouse area of 8,514㎡. This year, the ministry plans to handle general cargo at room temperature and expand the handling scope to include frozen and refrigerated ones beginning 2025. Korean SMEs using the logistics center will be able to process their cargo at 10-15% lower cost than the market price as they are handled as a priority over other cargo; thus helping them secure export competitiveness.