The announcement by CJ Logistics and the Korea Maritime Institute (KMI) of their plans to establish large-scale logistics centers in U.S. cities like Chicago and New York has captured significant attention from the local American press.
Between June 28 and 30, several local media outlets noted the joint investment and logistics center construction by CJ Logistics and KMI, predicting that it will help generate jobs locally.
CJ Logistics disclosed on June 28 that in collaboration with KMI, they will invest up to 600 billion won (US$510 million) in the United States to strengthen the national logistics network. This investment is part of their North America Project, which includes the construction of advanced logistics centers in three major locations: Chicago, New York, and another location yet to be announced.
In relation to this, a memorandum of understanding for the project was signed on June 19 at the CJ Logistics US Corporation in Des Plaines, Illinois, by Kang Shin-ho, representative of CJ Logistics, and Kim Yang-soo, president of KMI.
Both companies announced their plans to develop large-scale logistics centers on a total of three sites owned by the CJ Logistics US Corporation in logistics and distribution hubs like Illinois, Chicago, and Secaucus, New Jersey. The total land area amounts to approximately 360,000 square meters, equivalent to about 50 international standard soccer fields.
Utilizing the land owned by CJ Logistics US Corporation, KMI will support the funding needed for the construction of the logistics centers. Alongside the investment of approximately 600 billion won, the construction is expected to result in a steady employment of 500 people and generate further employment opportunities due to the construction.
