Hanjin Enters Thai Logistics Market... Expanding Southeast Asia Hub

Myanmar, Vietnam, and Now the 6th Expansion into Southeast Asia

Hanjin announced on the 9th that it has opened a CFS (Container Freight Station) logistics center at Laem Chabang Port in Thailand. The company plans to expand its foothold in Southeast Asia by entering the Thai logistics market. This is the sixth case of its global business in Southeast Asia. The opening ceremony was attended by Hanjin CEO and President No Sam-seok, President Cho Hyun-min, and others.

Laem Chabang Port is known as the "Busan Port of Thailand" and handles the largest cargo volume in the country. A CFS is a logistics center that stores, distributes, and handles container cargo. Based on this, Hanjin plans to expand its services into a "one-stop logistics" system that connects land transportation within Thailand in a single process.

Hanjin invested $830,000 (approximately 1.075 billion KRW) to acquire a 14% stake in Thai logistics company KSP Depot. By participating in the operation of the CFS, the company explained that it has established a foothold for entering logistics businesses such as forwarding and cross-border transportation not only in Thailand but also in neighboring countries including Vietnam, Laos, and Cambodia.

(From the third left) Kim Yong-gyu, President of Namseong Shipping, Jeon Jo-young, Charg? d'Affaires of the Embassy of Thailand, Lee Yong-min, President of KSP Depot, Cho Hyun-min, President of Hanjin, and Noh Sam-seok, CEO of Hanjin, are posing for a commemorative photo.
[Photo by Hanjin]

The company is implementing a strategy to build a Southeast Asian logistics network. In January, it converted its representative office in Jakarta, Indonesia, into a corporation. In March, it newly established a representative office in Bangkok, Thailand.

Currently, Hanjin operates a total of 12 overseas corporations in the U.S., China, Europe, and other regions. In Southeast Asia, it runs four corporations (Myanmar, Vietnam, Cambodia, Indonesia) and two representative offices (Thailand, Singapore).

A Hanjin official stated, "As a shareholder of a local Thai logistics company, we expect to establish a one-stop logistics system including land transportation within Thailand in the future," adding, "It is significant that new global logistics business opportunities in Southeast Asia, such as forwarding, have opened based on the operation of this center."