BJFEZ signs an MOU worth $195M(USD) with Coupang

2021-06-25 13:09:12
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BJFEZ & Coupang MOU

BJFEZ & Coupang MOU

BJFEZ welcomes Coupang AGAIN!

● BJFEZ-Coupang signs an MOU on the establishment of Smart Logistics Center
● Coupang plans to invest around $195 million USD and create 3000+ jobs

BJFEZ and Coupang has signed the second MOU of the year!

The first was to establish a Distribution Center(Fulfillment Center) in BJFEZ’s Dudong District back in April, and this time it is to establish a Smart Logistics Center in BJFEZ’s 'International Industrial Logistics District'.

The MOU signing was made because Busan City and the BJFEZ Authority had decided to ease the legal regulation that prohibited retail e-commerce businesses from operating in industrial facility zones. Busan City and the BJFEZ Authority plan to designate the BJFEZ International Industrial and Logistics City, where Coupang is expected to move in, as an industry-specific regulation exemption zones to allow the originally prohibited types of businesses to operate there for regional economic growth and large-scale job creation. Coupang also promised to make efforts to actively contribute to the development of the local economy and creation of decent jobs by faithfully implementing the investment plan.

Coupang plans to invest $195 million USD in the construction of the smart logistics center, which will be used as a base for building a global logistics network, and create 3000-plus jobs. Coupang will preferentially hire local residents. In addition, an increase in the volume of delivery service transactions in the region is expected to boost income and provide additional jobs for local small freight forwarders, as well as to help increase the sales of local businesses through direct and indirect transactions of local products.