BJFEZ Induces $13M Investment from Japanese Global Logistics Company

The Busan Jinhae Free Economic Zone (BJFEZ) Authority signed an MOU on attracting US$13 million in investment to establish a logistics center with NH-Senko, a Japanese global logistics company, in the grand meeting room of the authority on May 12.

Senko, a Japanese parent company of NH-Senko, has 458 branches in Japan and branches in 43 cities in 22 countries around the world. The company posted sales of 434 billion yen in 2016 and has 13,000 employees as a global logistics company.

In August 2015, Senko established "NH-Senko" in the Ung-dong hinterland of the Free Economic Zone in the Busan-Jinhae Free Economic Zone in concert with Nagata Transportation of Japan and Hwaseong Express of Korea.

NH-Senko is constructing a logistics center including a 21,157-square-meter two-story warehouse and a 2,645-square-meter frozen warehouse on the western part of Ung-dong, both of which are scheduled to be completed in October of this year. The logistics center will transport import products from the US and Europe to a hinterland of New Busan Port and send them to ports in the western and eastern parts of Japan after value-added processes such as processing and assembly.

"NH-Senko's investment decision proved the geographical superiority of New Busan Port as a hub for Northeast Asia once again. We will strive to lure more global logistics companies," said Jin Yang-hyun, commissioner of the Busan Jinhae Free Economic Zone Authority.