German Automobile Distribution Company MOSOLF Visits Yellow Sea Free Economic Zone (Pyeongtaek BIX)

Createdd 2019-04-24 Hit 9

Contents

○ European automobile distribution company MOSOLF visits Yellow Sea Free Economic Zone with interest in investing in automobile transportation logistics center
○ Yellow Sea Free Economic Zone promises Korea-Europe cooperation for growth in automobile distribution industry
– Plans to form strategic domestic and international alliances between distribution companies, establish mutual investment and more, to push forward with smart distribution growth
– Creative Knowledge exclusive industrial zone (Pyeongtaek BIX) designated as Northeast Asia distribution center for European automobiles

Representatives of MOSOLF, a German automobile distribution company, visited the Yellow Sea Free Economic Zone with interest in investing in a Korea-Germany distribution alliance.

On April 1, the Gyeonggi Province Yellow Sea Free Economic Zone Authority announced that they had met with representatives of MOSOLF on the morning of March 30 to discuss the establishment of an automobile-specific and high-value distribution cluster.

The representatives included Dr. Jörg Mosolf, CEO Wolfgang Goebel, and Detthold Aden, the previous President of the Bremen Port Authority. During the meeting, they discussed the prospects of the integrated freight industry and business plans for the European company in establishing an Asia distribution hub in the Yellow Sea Free Economic Zone.

The Yellow Sea Free Economic Zone Authority offered globally supportive plans to increase cooperation between the European automobile distribution company and the free economic zone, to form strategic alliances between distribution companies, both domestic and foreign, as well as to pursue mutual investments. The authority also promised to make Pyeongtaek BIX (Poseung district) available as a smart distribution-related automobile distribution hub.

Pyeongtaek BIX (Poseung district) is the only free economic zone in Gyeonggi Province in which foreign-invested companies can operate with a 100% waiver of regional taxes for up to 7 years. The land in the district is also 34% less expensive than in surrounding areas. In addition, last November, the Yellow Sea Free Economic Zone Authority designated the area as an industrial complex as an incentive to domestic companies.

MOSOLF currently possesses 1,000 special vehicles for mass transportation, 300 2-floor wagons and 2 ships. Through technical and distribution centers in primary regions of Europe, the group manages approximately 2,800,000 automobiles every year.

An official of the Yellow Sea Free Economic Zone Authority explained: “We are deeply thankful to have met a global leader in the distribution industry that will realize smart distribution and new Northeast Asia policies in tandem with the Fourth Industrial Revolution.” The official added, “We will provide the support needed to establish Pyeongtaek Port, the top distribution hub in Korea, as the channel to the southern marine logistics and to logistics in the north.”

Lots in the Yellow Sea Free Economic Zone are being sold from the first half of 2019. Foreign-invested companies interested in the Pyeongtaek BIX can contact the Investment Promotion Division of the Gyeonggi Province Yellow Sea Free Economic Zone Authority (+82-31-8008-8623, 031-8008-8633).