Dedication of Jangseong
Freight Terminal
The terminal is the third out of five planned by KIFT to cover nationwide logistics service
The Korea Integrated Freight Terminal Co. (KIFT) completed the first-phase of construction of its third terminal in Jangseong, South Jeolla Province, following its terminals in Gunpo, Gyeonggi Province and Yangsan, South Gyeonsang Province, Aug. 22.
The Jangseong terminal is one of the five large freight terminals planned by the government, to spur the exchange of goods among regions in the country in terms of logistics cost reductions and for balanced regional development.
Dignitaries gathered for the opening ceremony to cut the tape included Minister of Construction and Transportation Choo Byung-jik, Gov. Park June-yong of South Jeolla Province, Rep. Kim Hyo-seok, Park Sam-koo, chairman of the Kumho-Asiana Group and Kim Jong-ho, president of the Korea Integrated Freight Terminal, among others.
Kumho-Asiana Group Chairman Park, in his congratulatory speech, said the construction of integrated terminals around the country to spur the growth of the logistics business and building an integrated logistics network along with the construction of infrastructure such as airports, ports and inland logistics bases are key to making Korea a logistics hub in Northeast Asia.
The Jangseong Integrated Freight Terminal finished various work including the purchase of land in two years from 2000 and launched its construction in 2002 and completed a number of key facilities including 2 Distribution Centers, and 3 Cross Docking Areas to facilitate loading and unloading of cargoes, storage, packaging and information, among others.
The terminal is scheduled to begin the second phase of the construction next month to build five distribution centers, a cross docking area, two container cargo facilities and a container terminal with 20,000 pyeong space by 2010. A total of 289 billion won would have been invested in the terminal built on a total space of 160,000 pyeong when all the work is completed by 2010.
The terminal is expected to play a big role as a major strategic logistics base for the Honam region with all of the key cities in the region located within a 100 km distance of the terminal, which is expected to cut logistics costs and spur economic development of the nation? southwestern region.
The terminal is also expected to contribute to the balanced development of the country in linkage with Gunpo Integrated Freight Terminal and Yangsan Integrated Freight Terminal.
The KIFT plans to begin the construction of integrated freight terminals in Cheongwon and Yeongi in the middle region of the country and is expected to cover the entire nation logistically with its four integrated freight terminals in the country.
KIFT facilitates cargoes collection, loading, unloading, sorting, packaging, customs clearance, information and integrated logistics service using trucks and railroads. It recorded 67.7 billion won in revenue, 24.6 billion won in operating profit and 12.1 billion won in ordinary profit last year. The company projects 107.5 billion won in revenue, 25 billion won in operating profit and 13.4 billion won in ordinary profit.
The world is now confronted with a huge change and challenge of information and globalization age in the 21st century. Rapid progress of science and technology and the shift to an Information Society has pressured all nations to open their doors and globalize themselves, said President and CEO Kim Jong-ho of the KIFT. In this keen world of competition, freight distribution industry also cannot avoid the challenge and competition.
KIFT has gone ahead with the plan for the creation of an integrated freight terminal, which is connected with nationwide metropolitan areas in order to innovate upon the domestic freight distribution system. As the first phase, we constructed an integrated freight terminal on a scale of 330,000 M3 each in the metropolitan and Busan area, the central axes of freight distribution in South Korea, and distribution network by constructing the integrated freight terminal each in the Honam (southwestern), Yeongnam (southeastern) and central area.
KIFT will improve logistics system, reduce logistics cost, try to find the harmony between growth and creation of profit by carrying out the construction and operation of freight terminals side by side and develop into the integrated logistics company which points to total logistics service and seeks the common profit of manufacturers, consumers, consigners and the logistics company all together. nw

Kumho-Asiana Group Chairman Park Sam-koo delivers a speech at the dedication of Jangseong Freight Terminal.