2024 Greater Gwangju Logistics Market Report

According to the analysis of the supply and construction approval of logistics centers with a gross floor area of more than 3,000 pyeong(py) in the Greater Gwangju Area, the cumulative supply area by the 1Q 2024 is approximately 320,000 py. GFA of 1.3 million py is starting construction and GFA of 150,000 py is not under construction yet. Compared to the cumulative supply area with a GFA of 5,000 py in the Greater Chungcheong and the Greater Busan Area, which is 1 million py and 1.62 million py respectively, the supply of large-scale logistics centers in Greater Gwangju Area is a comparatively lower. As Non-Greater Seoul serves small e-commerce logistics centers with a gross floor area of less than 5,000 py, including them may slightly increase the logistics efficiency of Jeonbuk, but the lack of large-scale e-commerce operations in Jeonbuk shows that there is a great potential for growth in e-commerce logistics.