Inchon International Airport warehouse decided at 15 thousand pyong

Inchon International Airport warehouse exclusively for use by its members will be constructed on 30 thousand py ng (1 py ng is about 3.3 sq. m) grounds with 15 thousand py ng for warehousing, according to its original plan, by KIFFA (Korea International Freight Forwarder Association).
Nov. 4, KIFFA announced that they would construct a cargo warehouse (15 thousand py ng) on the first floor, and office space (20 thousand py ng) on the second floor according to its original intention when it held conferences with investing companies on this warehouse.
Some foreign forwarding companies are hoping to invest. To this, it will cost about 2,500,000 won per py ng with a minimum investment in 142~284 py ng per company. There are presently 49 investing companies with gross investment of about 32.6 billions won.
Kukbo Co., Ltd invested 2.5 billion won as the largest investor, Cosmo Airfreight Consolidators Ltd. and Sungil Transportation Co., Ltd. invested 1.25 billion won each and KIFFA invested 0.3 billion won.
Funds for warehouse construction received 0.3 billion won capital and 1.85 billion won for facility use this year. Further investment funds for next year will be 0.3 billion won and 11.1 billion won for facility use. An additional 14.8 billion won and 9.25 billions won for facility use will be required in 2005 and 2006 respectively. The Korea Freight Transport Bonded Area Ltd., was founded by president Song Jung Seob .
By the name of the corporation, business plans for warehouse construction exclusively for use by its members will be presented to Inchon International Airport January 12, 2004 after two warehouse construction committee conferences are held.