The Project for the Development of Anseong-Wongok Logistics Complex was approved at a meeting of the Deliberation Committee for Gyeonggi Logistics Complex Planning on January 15, Mutt BoyThe project has been launched in accordance with the MOUs concluded between Gyeonggi Province and Prologis in December 2007, and between Gyeonggi Province and Samsung Tesco in May 2008. With the approval of the project by the Deliberation Committee, it is expected that the project will subsequently be approved as a designated complex, and that full-fledged development will commence in January of 2009.

The Anseong-Wongok Logistics Complex will be located at Chilgok-ri, Wongok-myeon, Anseong City, and will have a total area of 672,000. Logistics facilities will account for 62% of the total land, representing an area of 415,000. Prologis will use 289,000¡×©ø of land, while Samsung Tesco will use the remaining 126,000. The area will be developed as an eco-friendly logistics complex, which will feature a large-scale natural park at its core.

The complex will be the largest logistics complex in the Southern Metropolitan area, and will include advanced logistics systems such as high-tech ultra-low-temperature freezers, automatic delivery systems, multi-item freshness maintenance systems, and primary distribution systems. The province plans to develop the complex as a part of a broader logistics network in Northeast Asia, connecting Pyeongtaek Port and Seoul via Anseong.

The complex is expected to generate high added value and stimulate the local economy. With a total investment amount of USD 0.6 billion and FDI of USD 0.4 billion, the complex will induce approximately KRW 1.34 trillion in production and create more than 5,000 jobs annually. The complex is also expected to increase national and local tax revenues by approximately KRW 20 billion for the next ten years.

The Gyeonggi Urban Innovation Corporation, which manages the project, plans to spend more than KRW 170 billion in compensation for land owners affected by the project in the first half of 2009. It will launch the site construction project in the second half of 2009 after gaining final approval. The project is scheduled to be completed by 2012.