[Public Notice+] Taewoong Logistics Partners with Haizeu Hangong... Enters Green New Deal Logistics Sector

Entry into Hydrogen-Related Storage and Transportation Business

[Asia Economy Reporter Minwoo Lee] Taewoong Logistics is entering the logistics business related to the Green New Deal by partnering with Haizeu Aviation.

To this end, Taewoong Logistics announced on the 14th that it acquired 900,000 shares of Haizeu Aviation worth approximately 4.9 billion KRW (a 5.09% stake). Haizeu Aviation also decided to purchase 572,223 shares of Taewoong Logistics worth about 3.1 billion KRW (2.93%). This is to strengthen mutual cooperation and enter the hydrogen-related storage and transportation business.

A Taewoong Logistics official explained, "As many large domestic and global companies continue to enter Green New Deal-related businesses, transportation demand is expected to increase significantly. Based on collaboration with Haizeu Aviation, which has competitiveness in Green New Deal-related businesses, we will actively prepare for the growing demand for storage and transportation related to green energy."

Haizeu Aviation is a company specializing in the assembly and sale of aircraft and aircraft-related parts. In October, the company announced that it had successfully developed a prototype hydrogen storage tank based on its aircraft parts technology. It is evaluated to have high usability due to better weight efficiency compared to existing hydrogen tanks.

Jae-dong Han, CEO of Taewoong Logistics, said, "Through this collaboration, we expect an increase in cargo volume not only in the green energy industry but also due to the expansion of Haizeu Aviation's Boeing-related sales capabilities. We will continue our efforts to diversify our business areas in the future."

This content was produced with the assistance of AI translation services.