Bonded warehouse under way for KIFFA at Kimpo

An explanatory meeting for investment in a bonded warehouse at Kimpo
Airport was held on Dec. 7th in the Korea International Freight Forwar
der Association (KIFFA) meeting room. The KIFFA bonded warehouse was p
lanned to settle the batch transport system (including storage, custom
s clearance, bonded transportation, and delivery) in the international
freight forwarding business, saving national logistic costs through s
erving total tariffs and improving competitiveness.


Fifty-one companies expect to participate in the bonded warehouse at
Kimpo Airport. KIFFA will rent 5,000-6,000 pyoung out of the Kimpo car
go terminal and make it a bonded warehouse. The warehouse will be run
by a new organization established by KIFFA. Investment is restricted t
o KIFFA and its member companies, with the option for member companies
to invest between 20 and 300 million won, and the option for KIFFA to
invest up to 1 billion won. Stockholders will be excluded from manage
ment and every member will be handled equally.