ProLogis to Invest in South Korean Facilities

DENVER—ProLogis announced plans to invest $600 million in logistics facilities in South Korea, according to the Ministry of Commerce, Industry and Energy (MOCIE) and the Korea Times newspaper.

Gyeonggi Province will provide an additional $400 million for two high-tech facilities—a six-story center in Bucheon and a two-story building in Anseong. Heavy trucks will be able to access storage areas directly on all floors by driving on ramps.

The ministry, province and ProLogis signed a memorandum of understanding to develop 667,000 square meters of land around the capital city, according to the newspaper. Korea Land Corp. will develop the Bucheon site, and Gyeonggi Urban Innovation Corp. will manage the Anseong site.

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