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Hyundai Mobis is building a logistics center in Gyeongju with an investment of KRW94.8 billion. This will be for car parts, and the company has partnered with the local governments in the southern province for this project.
As per Aju Business Daily, Hyundai Mobis’ goal for this new integrated logistics hub is to open a well-built and secured distribution network in the southeastern region of the country. This territory has around 12.7 million residents, so it is an expansive location.
It was reported that the car parts arm of the Hyundai Motor Group plans to construct a mega-sized facility. Currently, the company is running four logistics centers plus a total of 22 car parts distribution hubs in South Korea.
Hyundai Mobis said on Thursday, Nov. 10, that it has signed a memorandum of understanding (MOU) with both the governments of Gyeongju City and the North Gyeongsang Province. The company will is funding the project with its multi-billion won investment while the local governments agreed to provide administrative support for the investments can be generated fast.
Hyundai Mobis’s chief executive officer, Cho Sung Hwan, attended the signing ceremony of the MOU with North Gyeongsang’s Gov. Lee Cheol Woo and Gyeongju city’s Mayor Joo Nak Young. CEO Cho said at that time, "The latest investment in the logistics center is aimed to supply auto parts to owners of Hyundai and Kia cars more quickly and accurately."
The car parts manufacturer expects its new logistics center to be operational by the last quarter of 2024. The facility will be fitted with robot arms for moving small and medium-sized items.
Additionally, Hyundai Mobis said that it would automate the facility’s cargo storage and loading bay zones. To save on energy, there will be solar panels on the rooftop of the building.
The company said it is planning to use 100% renewable energy for the center by 2040. This move is part of its efforts to do its part in achieving the country’s goal of carbon neutrality. Finally, Korea Joongang Daily reported that the groundbreaking for Hyundai Mobis’ logistics center in Gyeongju has been set for early 2023.
