South Korean logistics firm KTC, plans to invest a total of CNY3 billion (US$381.51 million) to construct a logistics park in Pinghu, Shenzhen, according to the mainland China publication, Logistics Week.The park will be built over two phases, with each phase expected to take two years to complete at a cost of CNY1.5 billion a piece. Work on developing the first phase of the logistics park is scheduled to commence in March, 2007. The project calls for the entire logistics park to occupy a site measuring 480,000 square metres, which will accommodate four different sections for auto parts, IT products, comprehensive logistics services and a service area.
The report said the main clients of the logistics park will be South Korean companies. An executive from KTC pointed out that approximately 3,000 Korean firms are based in Shenzhen and other parts of Southern China, and they have expressed 'strong demand' for logistics services provided by a South Korean company, which these enterprises believe would understand their needs better. He also said that Shenzhen was selected as the site for this logistics base owing to it being a port city within close proximity to Hong Kong.
