Yangsoo Lee "aT Qingdao Logistics Center has low utilization rate despite large budget investment"

It was built at a cost of 20 billion won, but the five-year average utilization rate was 67%... Cold storage accounts for 37%.

(Seoul = Yonhap News) Reporter Han Joo-hong = It has been pointed out that the Korea Agro-Fisheries and Food Trade Corporation (aT) Qingdao Logistics Center, which was established with a large financial investment to support the export of Korean agricultural products to China, is not performing its functions due to low warehouse utilization and worsening profitability.

As a result of analyzing the data submitted by aT on the 14th by People Power Party lawmaker Lee Yang-soo, a member of the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee, the average utilization rate of all warehouses at the Qingdao Logistics Center from 2021 to 2025 was 67.3%. Low-temperature warehouses accounted for 37.0%, which was significantly lower than room temperature warehouses (85.2%).

The overall warehouse utilization rate fell for two consecutive years from 73.7% in 2023 to 67.8% in 2024 and 66.4% last year.

Qingdao Logistics Center was established in 2011 to secure an agricultural and food logistics base in China. At that time, a total of 20.57 billion won was invested, including 20 billion won in agricultural product price stabilization fund loans and 570 million won in government subsidies.

Profitability has also worsened recently. Qingdao Logistics Center's sales increased 81.2% from 10.074 billion won in 2021 to 18.253 billion won last year, and operating profit during the same period increased 15.4% from 254 million won to 293 million won.

However, net profit decreased by 39.3% from 428 million won to 260 million won.

Rep. Lee pointed out that the overall logistics center operation should be reexamined, citing the low utilization rate of cold warehouses and the fact that increased sales did not lead to improved net profit.

Rep. Lee said, “There is a need to reexamine the original demand forecast and operation strategy,” and “We need to analyze local demand and the usage status of domestic exporters to secure new shippers and prepare practical improvement measures to increase the utilization of logistics centers.”