Korea Ocean Business Corp. (KOBC) purchased a $120 million logistics center in Dalton, Georgia, aiming to strengthen the supply chain for Korean firms in the U.S. The Global Logistics Supply Chain Investment Fund, with a potential value of $287 million, is set to acquire more logistics warehouses in Georgia. KOBC is partnering with LX Pantos for further investments in port and logistics infrastructure.

The Dalton facility, operated by LX Pantos, will serve as a hub for Korean import and export companies in the U.S. spanning 1.2 million-square-feet. Located near 140 domestic companies in Dalton, including automotive and battery manufacturers, the warehouse is strategically placed for Korean exporters and importers.

U.S. trade with South Korea in 2024 reached $239.6 billion, increasing by 8% from the previous year. South Korea was the eighth largest trade partner of the U.S. in July 2024, with $17 billion in two-way commerce. Trade primarily involves machinery, mineral fuels, chemicals, cars, electronic goods, industrial machinery, and agricultural products.

An agreement between the Trump administration and South Korea includes a 15% tariff on imports from South Korea, exempting U.S. exports from duties. South Korea will invest $100 billion in U.S. energy products and $350 billion in the shipbuilding sector, semiconductors, secondary batteries, and biotech products. This deal prevents a 25% import duty that was set to take effect.

Read more at Yahoo Finance: $287M fund fuels global supply chain play