South Korea’s Posco Daewoo Corp. has linked up with the country’s largest parcel delivery service company CJ Logistics Corp. to venture into the logistics business.
Posco Daewoo signed a memorandum of understanding (MoU) with CJ Logistics on Friday at CJ HumanVille in Seoul to cooperate in logistics business at home and abroad. Under the partnership, the two companies plan to utilize their overseas logistics bases to jointly develop logistics routes and cooperate in strategic areas.
CJ Logistics provides integrated logistics services engaged in steel, petrochemical and other large projects in Korea and internationally.
Posco Daewoo aims to expand its business area to harbor development, import storage facilities and inland logistics by combining its existing resource development, steel and food businesses with the new logistics business.
By Kang Young-woon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]