The Ministry of Oceans and Fisheries said Thursday that the Elwood logistics center was built through a joint investment by the Korean logistics company and the state-run Korea Ocean Business Corp (KOBC).
The facility sits on a 295,000-square-meter site and has a total floor area of 103,000 square meters, roughly equivalent to 14 soccer fields. It is equipped with 130 loading docks for large trucks and other infrastructure designed to handle high volumes of cargo.
The ministry highlighted the center's location as one of its key advantages.
Elwood lies about 72 kilometers southwest of downtown Chicago and within 5.5 kilometers of the CenterPoint Intermodal Center, one of the largest logistics hubs in the United States. Its access to major rail and road networks allows cargo to be delivered to destinations across much of the country within two days, according to the ministry.
The project was supported under the government's overseas logistics market development program, which has provided assistance to Korean logistics companies seeking to expand abroad since 2011.
Under the program, five to 10 companies are selected each year to receive up to 200 million won ($147,394) each to help cover feasibility study costs for overseas projects. The Elwood project received such support in 2022 before moving forward with the investment.
The facility also forms part of Seoul's broader effort to secure overseas logistics assets amid growing concerns over global supply chain disruptions.
The government and KOBC have also set up a 1 trillion won fund to help Korean logistics companies secure overseas assets and strengthen supply chains. Seoul plans to establish 40 public-private logistics centers overseas by 2030.
Logistics centers backed by Korean public institutions will be designated as shared overseas facilities through Korea Trade-Investment Promotion Agency (KOTRA), giving small and midsized Korean companies access to logistics services at lower costs.
"We expect this project to enhance the competitiveness of Korean logistics companies while providing stable logistics services to Korean importers and exporters operating in the United States," said Kim Hye-jung, director general for shipping and logistics policy at the ministry.
AJP Takeaways
· Korea-backed logistics center begins operations near Chicago, expanding Seoul’s U.S. logistics network.
· The 103,000-square-meter facility has 130 loading docks and access to major rail and road networks.
· Seoul aims to establish 40 public-private overseas logistics centers by 2030.
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