The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
Business
  • Tech
  • Bio
  • Companies
Fri, July 1, 2022 | 04:53
Tech
Samsung SDS to establish logistics joint venture in Vietnam
Posted : 2016-08-18 17:32
Updated : 2016-08-18 17:59
Print Preview
Font Size Up
Font Size Down
By Yoon Sung-won

Samsung SDS will establish a joint venture in Vietnam with the country's largest airport terminal logistics business Aviation Logistics Service (ALS), the IT affiliate of Samsung said Thursday.

The company pledged to boost its presence in the Southeast Asian logistics market through the new joint venture, added to their portfolio including the partnership with Thailand's top customs clearance business Acutech made last month.

"Considering ALS's local network and diverse business capabilities we decided that Vietnam is the most optimized partner for Samsung SDS," said Kim Hyung-tae, executive vice president of Samsung SDS's Smart Logistics Business Unit. "With this agreement we will continue to expand our business in the Southeast Asia market."

The system integration service provider said the decision to establish a joint venture in Vietnam has been made as the country's logistics market is recording about 15 to 20 percent annual growth on increasing trade volume and foreign investments. Multinational businesses relocating their global manufacturing bases after the arrival of the Trans-Pacific Partnership and the ASEAN Economic Community have also contributed to the decision, the company said.

"Handsets and mobile components have become Vietnam's biggest export items since 2013," Samsung SDS said. "We believe that we can expand external business by utilizing our existing international shipping capacity."

Samsung SDS said it is handling about 40 percent of operations at Noi Bai International Airport in Hanoi, the largest airport in northern Vietnam.

The company said it will seek new customers in Vietnam by providing integrated logistics services and expanding local sales channels on the back of ALS's existing customer base.

In particular, Samsung SDS said it will utilize storage and terminal capacity owned by local partners to stably manage the rapidly growing logistics volume in Vietnam.

Other than the partnerships in Thailand and Vietnam, the company said it is in discussions with Chinese companies to seek sustainable growth in the logistics business.


Emailyoonsw@ktimes.com Article ListMore articles by this reporter
 
LG
LG
  • Will Japanese PM Kishida accept Yoon's olive branch?
  • Minimum wage for next year increased 5% to 9,620 won
  • Major expressway in Seoul closed off due to heavy downpours
  • Heavy downpour hits central regions [PHOTOS]
  • Hole-in-one golf insurance policy exploited by fraudsters
  • Samsung chief's daughter to attend Colorado College in fall
  • 'Tangible outcome' in arms deal with Poland expected soon
  • Jill Biden advises first lady Kim: "Just be yourself"
  • LG, Hanwha, LS eye EV charging biz for future growth
  • [INTERVIEW] 'New order takes root in fashion e-commerce industry'
  • [INTERVIEW] Park Hae-soo talks about differentiating his character in 'Money Heist' remake [INTERVIEW] Park Hae-soo talks about differentiating his character in 'Money Heist' remake
  • 'Money Heist: Korea' ranks No. 2 on global Netflix chart 'Money Heist: Korea' ranks No. 2 on global Netflix chart
  • Korean studies struggle to grow despite success of K-pop, K-dramas Korean studies struggle to grow despite success of K-pop, K-dramas
  • [INTERVIEW] Park Chan-wook says 'Decision to Leave' is sexy without sex scenes [INTERVIEW] Park Chan-wook says 'Decision to Leave' is sexy without sex scenes
  • Frieze Seoul unveils list of galleries, programs for upcoming inaugural edition Frieze Seoul unveils list of galleries, programs for upcoming inaugural edition
DARKROOM
  • Afghanistan earthquake killed more than 1,000 [PHOTOS]

    Afghanistan earthquake killed more than 1,000 [PHOTOS]

  • Divided America reacts to overturn of Roe vs. Wade

    Divided America reacts to overturn of Roe vs. Wade

  • Namaste: Yogis to celebrate International Yoga Day

    Namaste: Yogis to celebrate International Yoga Day

  • Poor hit harder by economic crisis

    Poor hit harder by economic crisis

  • Roland Garros 2022

    Roland Garros 2022

The Korea Times
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Location
  • Media Kit
  • Contact Us
  • Products & Service
  • Subscribe
  • E-paper
  • Mobile Service
  • RSS Service
  • Content Sales
  • Policy
  • Privacy Statement
  • Terms of Service
  • 고충처리인
  • Youth Protection Policy
  • Code of Ethics
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group