Retail News CRM

Tag: pyeongtaek

  • ESR Kendall Square Sells Pyeongtaek Warehouse to Samsung SRA for $253 Million

    ESR Kendall Square Sells Pyeongtaek Warehouse to Samsung SRA for $253 Million

    ESR Kendall Square sold Pyeongtaek Logistics Park to a Samsung SRA Asset Management vehicle backed by South Korea’s National Pension Service for KRW 343 billion ($252.6 million). The transaction closed on 1 September at KRW 1.8 million per square metre of gross floor area.

    The deal transfers one of South Korea’s largest modern sheds from foreign pension backing to domestic institutional ownership. ESR built the 2023-vintage facility with capital from Canada Pension Plan Investment Board and Dutch asset manager APG. Samsung SRA funded the acquisition through a KRW 400 billion core fund that drew KRW 250 billion from the National Pension Service alongside capital from Samsung-affiliated insurers.

    Hub for Port and E-Commerce

    Pyeongtaek Logistics Park spans 190,000 square metres across a 165,827-square-metre site in the Poseung district of the Gyeonggi Free Economic Zone. E-commerce platform SSG.com pre-leased the entire ambient facility in late 2021 before ground broke.

    Located three kilometres from Pyeongtaek Port, the property features direct ramp access to every floor, high ceilings, South Korea’s largest single-floor warehouse footprint, and 10 megawatts of power capacity. Logistics inventory in Pyeongtaek expanded more than 1.7-fold between 2022 and mid-2025 as third-party logistics firms and end-users absorbed space near regional automotive and electronics clusters.

    Capital Flows Shift Domestic

    Institutional buyers are moving on cash-flowing assets in South Korea as new warehouse construction drops sharply from post-pandemic peaks. Overseas capital accounted for more than 60 percent of industrial trades in 2025, but Korean managers with long-term domestic mandates are now securing completed, fully leased assets as supply eases and ambient rents start to climb.

    Greater Seoul logistics net absorption rose 42 percent to 164,000 square metres in the second quarter, while nominal rents reached $7.65 per square metre per month. Investors are tracking second-half completions, which fell to one-third of their year-earlier level, to test how quickly remaining vacancies tighten across the capital region.

  • South Korea Exports Hit Record 709.4 Billion Dollars Year to Date

    South Korea Exports Hit Record 709.4 Billion Dollars Year to Date

    South Korea’s exports reached 709.4 billion dollars year to date, breaking the nation’s previous full-year record months ahead of schedule. Outbound trade surpassed the total volume recorded across the whole of the prior year, according to data released by the customs office in Seoul on Saturday, September 5.

    Record Outbound Shipments

    Customs authorities confirmed the milestone as cross-border shipments cleared major domestic terminals, including Pyeongtaek port. The rapid accumulation of trade value puts outbound volume well ahead of typical seasonal delivery cycles.

    Strong shipment volumes from South Korea offer clear insight into regional manufacturing activity and commercial freight movement. As a key supplier of finished goods and critical components to global retailers and technology companies, the country’s export pace reflects sustained international purchasing appetite.

    Trade Trajectory

    Export momentum heading into the fourth quarter establishes an unprecedented baseline for the economy’s external trade balance. Market analysts and logistics planners are tracking upcoming monthly customs reports to see whether shipment velocity holds steady through the close of December.