MOF to Hold Groundbreaking for the Development Project of Pyeongtaek/Dangjin Port Hinterland Complex (Phases 2 and 3)

Attracting investment of KRW 68.9 billion in private capital to supply an additional 230,000 m2 of port hinterland complex by 2027 to increase the added value of Pyeongtaek/Dangjin Port

 The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) disclosed that it will hold the groundbreaking ceremony for Phase 2-3 of the Development Project of Pyeongtaek/Dangjin Port Grade 1 Hinterland Complex* on Tuesday, March 25.

 * Site preparation: 229,000 m2; Total project cost: KRW 68.9 billion; Project developer: Gyeonggi Pyeongtaek Port Corporation (GPPC).

 The Development Project of Pyeongtaek/Dangjin Port Hinterland Complex aims to attract KRW 68.9 billion in private capital to create a 229,000 m2 (equivalent to 32 soccer fields) hinterland complex in the Dangjin Port area by 2027. The project will develop 142,000 m2 for business convenience and public facilities in connection with the new international passenger pier and terminal and 87,000 m2 for logistics and manufacturing facilities aimed at attracting integrated logistics companies. Project developer GPPC will use or lease/sell the facilities.

 Concluded on March 10—following the signing of the Project Implementation Agreement by MOF and GPPC—was an amendment agreement stipulating the price ceiling of the distribution price of acquired land* and advance allocation of public and common-use land** by reflecting the Measures to Strengthen Public Interest in the Private Development and Sales of Port Complexes prepared by MOF in 2024.

 * The sale or lease price is determined within 115% of the acquisition price.

 ** 40% of the land held by the government for logistics and business convenience facilities is for public or common use.

 “When Phases 2-2 (budgetary program) and 2-3 are completed, a total of 4.072 million m2 of port hinterland area equivalent to 390 soccer fields—including the 1.421 million m2 developed in the first phase in 2010 and the 1.134 million m2 currently being developed in Phase 2-1—will be supplied to the Pyeongtaek/Dangjin port. It will help attract high value-added logistics and manufacturing facilities, create new cargo volume and jobs, and drive the regional economy forward,” Minister Kang Do-hyung said.