POSCO held a groundbreaking ceremony of Hunchun POSCO Hyundai International Logistics Center on September 10th 2012. The POSCO Hyundai International Logistics Center Development Project is a strategic project to establish a logistics hub centering on the three northeastern provinces in China. The project, covering an area of 1.5 square kilometers and leased from the Chinese government for the next 50 year to receive infrastructure and tax benefits, will develop and operate a warehouse, container storage and a delivery center.

Mr Chung Joon yang chairman of POSCO expressed a congratulatory message, saying that "The Logistics Complex Development Project will significantly contribute to facilitating economic trade as a logistics hub in the three northeastern provinces in China in the future."

About 200 people, including chairman Mr Chung Joon yang, Party Secretary of Yanbian Prefecture Mr Zhang Anshun, Provincial Party Secretary Mr Sun Zhengcai, Ambassador to China Mr Lee Kyu hyung, President of Hyundai Group Mr Hyun Jung eun, President of Yanbian University of Science & Technology Mr Kim Chin kyeong and vice chairman of POSCO Engineering & Construction Mr Jeong Dong hwa jointly attended the groundbreaking ceremony.

The first phase of the distribution park will be completed by the end of 2013 and start operation in January of 2014. Construction of the second and third phases will be finished by 2019. The center will handle grains, processed fish products, auto parts, clothing items and other consumer goods.

To that end, POSCO and the Jilin Provincial Government concluded a MoU on project promotion in July of 2010, followed by another MOU between POSCO E&C and Hunchun city government in September of the same year. In addition, POSCO A&C took charge of the project design to maximize connection with roads and railways and secured a clear traffic flow system with floor planning suitable for freight flow, a feature of logistics complexes.

POSCO plans to strengthen the role of Hunchun POSCO International Logistics Park as a strategic logistics hub and base to develop resources for the POSCO Family, and consistently promote the project to help it serve as a bridge to expand its business areas to bordering regions such as the three northeastern provinces of China, Mongolia and Russia.

Source - POSCO

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