SEOUL, September 6 (Yonhap) — South Korea’s logistics giant Hanjin Transportation Group announced on Thursday that it has formed a joint venture with China’s AWOT Logistics Group to specialize in e-commerce logistics. The new joint venture, named Hanjin Global Express Shenzhen, is aimed at expanding their logistics operations in the region.
Hanjin Transportation Group, which has been active in the logistics sector, revealed that the collaboration with AWOT Logistics Group, a leading Chinese logistics provider, will help them tap into the rapidly growing e-commerce market in the Asia-Pacific region.
The agreement between the two companies was signed last November, and the formal establishment of the joint venture took place in Shenzhen the day before. According to the companies, AWOT will handle transportation of goods from China to South Korea and Japan, while Hanjin will be responsible for customs clearance and transportation within Korea and Japan.
The joint venture plans to expand its logistics operations to Southeast Asia and the Americas, with a focus on the Shenzhen region. The new entity will operate a self-shipment warehouse center and aims to extend its existing business to e-commerce companies in China, Japan, and South Korea. The companies will also work on developing and implementing cross-border e-commerce services from China to other countries in a phased manner.
The establishment of Hanjin Global Express Shenzhen is a significant step forward for both Hanjin and AWOT, said a Hanjin official. This joint venture will allow us to offer comprehensive e-commerce logistics solutions that cater to the needs of our clients in the region.
The new joint venture is expected to benefit from the strengths of both companies, with Hanjin’s expertise in international logistics and AWOT’s knowledge of the Chinese market. The collaboration will also create new opportunities for growth and innovation in the logistics sector.
The announcement of the joint venture comes at a time when the e-commerce industry is experiencing rapid growth in the Asia-Pacific region. With the increasing demand for fast and efficient logistics services, the partnership between Hanjin and AWOT is seen as a strategic move to capture a larger share of the market.
The e-commerce logistics market is growing at an unprecedented rate, and we believe that this joint venture will allow us to offer our clients the best possible solutions, said an AWOT official. We are confident that this collaboration will be a great success.
The joint venture is expected to create new job opportunities and contribute to the economic growth of both South Korea and China. It also marks a significant step in strengthening the bilateral economic ties between the two countries.
As the e-commerce industry continues to expand, the need for efficient and reliable logistics services will only increase. The formation of Hanjin Global Express Shenzhen is a testament to the industry’s commitment to innovation and growth, and it will likely serve as a model for future collaborations between international logistics companies.
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