42 Trillion Investment in 12 National Ports... Rising Expectations for Pyeongtaek Ocean Central Biz Near Ports for Sale

- Pyeongtaek·Dangjin Port, Incheon Port, Gwangyang Port Near Major Development Projects Expected to Benefit Income-Producing Real Estate
- Interest Rises in Pyeongtaek 'Ocean Central Biz' Knowledge Industry Center Near Pyeongtaek Port, Gyeonggi-do's Only International Trade Port

With a completion target set for 2040, a total of 12 new ports are currently under development nationwide, with approximately 42 trillion KRW to be invested. Consequently, real estate around the ports is emerging as a beneficiary district.

The Ministry of Oceans and Fisheries enacted the New Port Construction Promotion Act in 1996 to respond swiftly to the increasing demand for ports and has established the basic plans for new port construction twice so far. Accordingly, a total of 12 new ports (Busan Port New Port, Gwangyang Port, Pyeongtaek-Dangjin Port, Mokpo New Port, Pohang-Yeongilman Port, Boryeong New Port, Ulsan New Port, Incheon North Port, Incheon New Port, Saemangeum New Port, Jeju New Port, Donghae New Port) have been designated and are under development. Recently, it was announced that the revised plan for the '2nd Basic Plan for New Port Construction (2019~2040)' will be finalized by 2024.

The newly established basic construction plan is expected to include concrete measures for securing competitiveness in the shipping and logistics industry based on smart ports, expanding ship and logistics hubs?one of the new government's 110 national tasks?and building a digital maritime traffic network to pioneer the new shipping market.

Accordingly, demand is focusing on income-generating real estate in regions aiming to capitalize on port-related special demand.

Pyeongtaek-Dangjin Port

The government plans to invest a total of 5.9 trillion KRW by 2030 to expand infrastructure such as wharf facilities at Pyeongtaek-Dangjin Port, focusing on developing it as an industrial support port for the metropolitan area and a marine tourism hub in the West Sea region. As part of the hinterland transportation facilities, early construction of the 'Pyeongtaek-Dangjin Port Access Road' (total 152.1 billion KRW, 2.3 billion KRW in 2022) and the National Road 38 connection road (total 11.9 billion KRW, 0.3 billion KRW in 2022) will be carried out to reduce logistics costs and improve the efficiency of import-export cargo volume.

Additionally, the development of the 'Phase 2-1' and 'Phase 2-3' hinterland complexes, totaling approximately 3.2 million square meters, will be promoted as private investment projects to attract high value-added industries such as automobile clusters, semiconductor and electronic component manufacturers, international passenger shipping companies, and tourism enterprises. Construction of the Pyeongtaek-Dangjin Port International Passenger Terminal will also commence in earnest. The newly built international passenger terminal is scheduled for completion in 2024, with a project cost of 71.7 billion KRW.

Meanwhile, Goldland J&J (developer) is attracting attention by supplying the Pyeongtaek Ocean Central Biz, a knowledge industry center certified as the world's largest port complex support facility. The complex will be built in the Manho-ri area of Poseung-eup, Pyeongtaek City, consisting of 2 basement floors and 40 above-ground floors, with a total floor area of approximately 240,000 square meters.

It is close to the Poseung BIX district, a part of the Gyeonggi Free Economic Zone, and the Hyeondeok district where automobile clusters and hydrogen complex district projects are underway. Additionally, the Pyeongtaek Port hinterland complex, capable of handling the largest volume of automobile cargo in Korea, is also being developed, which is expected to absorb significant demand for knowledge industry centers linked to automobile content. Furthermore, several industrial complexes such as the Poseung National Industrial Complex and Wonjeong National Industrial Complex are nearby, promising synergistic effects among companies.

Meanwhile, the Pyeongtaek Ocean Central Biz is currently operating a promotional center.

This content was produced with the assistance of AI translation services.