Korea Ocean Business Corp. (KOBC) recently completed the purchase of a $120 million logistics center in Dalton, Georgia, according to a news release.
The South Korean state-backed maritime financial firm has created a public-private fund — known as the Global Logistics Supply Chain Investment Fund — that could reach up to $287 million, and is aimed at snapping up logistics warehouses across Georgia.
The goal is to improve supply chain competitiveness for Korean-owned firms selling products in the U.S., KOBC officials said.
KOBC made the Dalton acquisition through a partnership with Korean logistics company LX Pantos.
“We plan to continue investing in new port and logistics infrastructure with LX Pantos Logistics to support our export/import logistics companies’ entry into overseas markets,” Byung-Gil Ahn, CEO of KOBC, said in a statement on March 12. “We plan to spare no effort in supporting investments to secure key overseas ports and logistics bases for our companies.”
The Global Logistics Supply Chain Investment Fund was created in 2018. KOBC said it is pursuing follow-up investment projects in Savannah, as well as a property in Port Klang, Malaysia.
The LX Pantos-operated facility in Dalton is expected to serve as a hub logistics supply chain for Korean import and export companies in the U.S. The two-building facility includes 1.2 million-square-feet of warehouse space.
Dalton is located about 90 miles from Atlanta. The warehouse is near 140 domestic companies, including leading automotive and battery manufacturers, KOBC officials said.
“Georgia is a strategic hub for overseas supply chains where many domestic companies have advanced into, and in the future, it can be utilized as a stable logistics supply chain base in the U.S. for Korean exporters and importers,” Yoon Sang-ho, head of the marine finance division at KOBC, said in a statement.
“Furthermore, this logistics center will be designated as an “Overseas Joint Logistics Center,” strengthening support for overseas expansion by Korean small and medium-sized export and import companies.”
U.S. goods and services trade with South Korea totaled $239.6 billion in 2024, up 8% year-over-year compared to 2023.
For the month of July, South Korea was the eighth largest trade partner of the U.S., totaling $17 billion in two-way commerce.
The U.S. primarily exports machinery, mineral fuels, and chemicals from South Korea, while importing cars, electronic goods and industrial machinery. Agriculture is also a key area of trade, with the U.S. exporting agricultural products to South Korea.
The Trump administration announced on July 31 it has reached a deal with South Korea that includes a 15% tariff on imports from the Asian nation.
As part of the agreement, U.S. exports to South Korea will not face duties. South Korea will buy $100 billion in U.S. energy products and invest $350 billion into the U.S. shipbuilding sector, as well as production of semiconductors, secondary batteries and biotech products.
The trade agreement between South Korea and the U.S. averts a steeper 25% import duty that would have started on Tuesday.
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