BVL Chapter Korea visited the Yellow Sea Free Economic Zone(YESFEZ) with the leaders of its member companies on April 11, 2019 to hold an event for Supply Chain Day.

YESFEZ is a special economic zone near the Pyeongtaek port in Pyeongtaek City, southwestern part of Gyeonggi province, which is located at 1-2 hour driving distance from main bases of western part of Korean peninsula such as Seoul, Incheon and Kunsan. Automotive industry of Hyundai, Kia, Ssangyong and Donghee Auto has been well developed around the city, and there are also industrial complexes for semi-conductor products and display panels of Samsung and LG. Furthermore, it has the utmost geographical advantages as a logistical base having the fastest access to China’s coastal industrial economic belt.   

The authority aims to make YESFEZ undertake overall development functions such as logistics & production, R&D, international business, residential housing, education, and entertainment based on world-leading clusters in the region. The economic zone will receive full support of Gyeonggi provincial government to be an outpost for bio-logisitcs and value-added smart logistics with cost effectiveness. The area is being developed under construction. YESFEZ is the only free economic zone in Gyeonggi province, where offers exemptions or reductions in local tax for foreign-invested firms up to 15 years.

BVL Chapter Korea invited leaders of the logistics industry to the tour event, and the 10 participants including Mr. Kim Jin-Il, Chief Director of the Korea Logistics Industries Cooperative, Mr. Han Myeong-Su, the President of the Sejung Group and Mr. Gu Seung-Wan, the President of Pyeong-gu Group had an opportunity to look around the site and shared opinions for mutual growth of the YESFEZ and the industry. One participant mentioned “I came to see the port of Pyeongtaek as the best place for bio-logistics that is the high value-added, high profit industry. It was nice to see the potential of integrated logistics system of the port.” 

Mr. Kim Jin-Il, the Chief Director of the Korea Logistics Industries Cooperative, joined the today’s tour event representing the members, to promote the interests of the companies related to the projects of YESFEZ. He expressed the hope for the joint transport & PDI operation for the vehicles from Germany to South Korea.

Mr. Gu Seung-Wan, the President of Pyeong-gu Group, showed his willingness to help in case foreign companies have difficulties in investing in Korea while they are in needs of logistics facilities in YESFEZ.

Mr. Han Myeong-Su, the President of Sejung Group, emphasized importance of bio-logistics asking for attention from the participants logistics leaders.