ProLogis Reports on South Korea

ProLogis (PLD - Snapshot Report), a leading global provider of distribution facilities, has recently released its new report on South Korea’s industrial property markets, collating data from varied sources including primary research conducted by its analysts and academicians, and industry data from secondary sources.

The report divulges how the industrial property markets have been affected by the historical, political, and geographical landscape of the country, with approximately 95% of the existing inventory of warehouse and distribution space being obsolete. Despite the rapid economic strides made by South Korea, it has perennially neglected the logistics and supply-chain networks until recently.

With an intensified global pressure to remain competitive in the market, South Korea is now focusing on building state-of-the-art distribution facilities and supply-chain networks. Furthermore, the economy has remained stable during the recession and the real GDP of the country is expected to gain momentum once the recession ends. This provides a tremendous upside potential for the beleaguered industrial property sector.

ProLogis owns and manages interests in over 2,500 distribution facilities, service offices, and properties spanning 475 million square feet of space (including properties under development). As of Jun 30, 2009, the company had 200.5 million square feet of direct-owned industrial properties, – 81.5% of which was located in North America, 14.2% in Europe, and 4.3% in Asia.