Investment MOU to Build BGF Retail’s Logistics Center

Busan-Jinhae Free Economic Zone (BJFEZ) Authority signed an investment memorandum of understanding (MOU) with the Busan City government and BGF Retail to establish a logistics center for BGF Retail.

BGF Retail, a leading company in the domestic convenience store market currently operating 32 distribution centers across the country, plans to invest approximately 154 billion US dollars to secure a site of 47,184㎡ in Zone 9 of the International Industrial Logistics District and proceed with the construction.

Once the logistics center is completed, the company will contribute to the local economy by creating jobs for about 1,000 local residents and utilizing the CU Convenience Store network to promote various cooperative projects with the local community.

Under the MOU, the Busan City government will provide administrative and financial assistance for BGF Retail’s successful investment and job creation, the BJFEZ Authority will support licensing and administrative procedures related to BGF Retail’s implementation of the investment project, and BGF Retail will actively cooperate to create jobs, discover industries for the development of local industries, and promote mutual growth with the local community.