CJ Logistics and Korea Ocean Business Corporation Sign MOU to Expand Global Logistics Territory

[Asia Economy Reporter Yoo Hyun-seok] CJ Logistics announced on the 2nd that it has signed a "Business Agreement to Enhance Competitiveness of Domestic and International Port Logistics Infrastructure" with the Korea Ocean Business Corporation (KOBC).

Through the business agreement, CJ Logistics and KOBC agreed to closely cooperate on ▲ exchanging information and discovering business opportunities related to domestic and international port logistics infrastructure projects ▲ reviewing project feasibility, seeking competitive financial structures, and supporting investments ▲ developing programs to support domestic small and medium-sized export-import companies.

Taking this business agreement as an opportunity, both parties will jointly discover high-growth port logistics business opportunities and enhance national supply chain infrastructure competitiveness by establishing a competitive financial support system. They also agreed to actively cooperate in securing a stable export-import logistics supply chain for Korean companies.

In particular, the two organizations are responding to the current global situation where the recent pandemic, the subsequent restructuring of global supply chains, and the strengthening of protectionism have led countries worldwide to focus on strengthening national supply chain competitiveness related to key resources and food. They plan to build a strategic cooperative relationship to secure overseas logistics infrastructure and strive to establish active cooperation measures.

Earlier, in March, KOBC established a Port Logistics Finance Team within the Marine Finance Division 1 through organizational restructuring, and it is reported to be providing necessary financial support to enhance the competitiveness of logistics infrastructure such as domestic and international port terminals, hinterlands, and logistics centers.

With CJ Logistics, which has the largest logistics infrastructure and business capabilities domestically and internationally, along with a network of 280 offices in 40 countries worldwide, combined with KOBC’s capabilities that have contributed to the reconstruction of the shipping industry and the development of the national logistics industry through various macro and policy investments, it is expected to create synergy effects such as improving the national supply chain competitiveness of Korea and revitalizing overseas local logistics and export-import logistics of domestic small and medium-sized enterprises.

Kang Shin-ho, CEO of CJ Logistics, said, "We are pleased to have signed a business agreement with the Korea Ocean Business Corporation, a strong pillar of Korea’s shipping and port industry, and we look forward to active support and cooperation for strengthening national supply chain competitiveness and mutual growth of both companies."

Meanwhile, CJ Logistics has been striving to strengthen national logistics competitiveness, including receiving certification under the "Excellent Shipper Certification System" operated by KOBC in 2020 to promote continuous win-win cooperation between shippers and carriers.

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