"Export to the US via Chinese Ports and Korean Airlines"… LX Pantos Partners with China's Largest Logistics Company

MOU with Zhongshi Note Trans
Promotion of Korea-China Multimodal Transport Joint Venture Establishment

At the headquarters of Sinotrans in Beijing, China, Lee Yong-ho, CEO of LX Pantos (fifth from the left), Song Long, General Manager of Sinotrans (sixth from the left), and other officials are taking a commemorative photo after signing a business agreement. (Photo by LX Pantos)

LX Pantos is establishing a joint venture (JV) with Sinotrans, the largest logistics company in China. They plan to operate a 'multimodal transport' business that exports to Western countries such as the United States and Europe via Chinese ports and Incheon Airport.

On the 16th, LX Pantos announced that it signed a memorandum of understanding (MOU) at Sinotrans headquarters in Beijing, China, focusing on establishing a Korea-China multimodal transport JV and building a strategic partnership.

Accordingly, the two companies will establish a JV specializing in Korea-China multimodal transport. They plan to transport cargo departing from China by sea to Korean ports and then by air through Incheon Airport to destinations in the Americas and Europe.

This move is intended to respond to the rapidly increasing demand for Korea-China multimodal transport as e-commerce cargo volumes from China have recently surged. According to Incheon International Airport Corporation, the Korea-China multimodal transport cargo volume last year was 98,560 tons, an increase of about 43% compared to the previous year.

Additionally, both companies agreed to expand cooperation by leveraging their respective global logistics networks and infrastructure strengths. LX Pantos provides comprehensive logistics services such as transportation, storage, and customs clearance overseas in the Americas and Europe using its domestic largest network of 380 global connections, while Sinotrans has been providing transportation services using rail and trucks for inland China and China-originated Europe-bound logistics.

Lee Yong-ho, CEO of LX Pantos, said, "Sinotrans is a leading Chinese logistics company and a trusted partner with whom we have built a long-standing cooperative relationship. Through this MOU, we aim to strengthen the partnership between the two companies in the global logistics business and create strategic synergy."

Song Long, General Manager of Sinotrans, said, "LX Pantos is a leading Korean logistics company that has held the number one position in air cargo export volume for a long time and possesses an extensive global network. Based on the strengths of both companies, we will promote strategic cooperation in the global logistics market."