AMB To Build First Korean Distribution Center

SEOUL, KOREA-In what company CEO Hamid Moghadam terms “a logical step,” AMB Property Corp. is enhancing its Asian distribution network by building a 363,000-sf logistics complex next to the cargo loading area of Incheon International Airport.

“As the world’s second largest airport as measured by cargo volume, Incheon International is the primary logistics hub serving Korea and greater Northeast Asia,” Moghadam says. “Our expansion into this market is a logical step as we continue to offer modern distribution facilities in our major gateway markets throughout Asia, Europe and North America.”

San Francisco-based AMB owns nine million sf of distribution space throughout Asia in China, Japan and Singapore, but the AMB ICN Logistics Center will represent the real estate investment trust’s inaugural venture onto the Korean peninsula.