FutureLinks Joint Venture Agreement Signed
LX Pantos Holds 60%, Sinotrans Holds 40%
LX Pantos is establishing a joint venture with China's largest logistics company to target the rapidly growing sea-air intermodal transportation market in the region. The company plans to build a global transshipment network based on Chinese e-commerce cargo and further enhance the competitiveness of Northeast Asia as a logistics hub.
On November 13, LX Pantos announced that it had signed an agreement with Sinotrans at Sinotrans headquarters in Beijing, China, to establish their joint venture, "FutureLinks." The signing ceremony was attended by Lee Yongho, CEO of LX Pantos, Zhang Yi, Chairman of Sinotrans, and other key executives from both companies.
On the 13th, at the Sinotrans headquarters in Beijing, China, Lee Yongho, CEO of LX Pantos (left in the photo), and Zhang Yi, Chairman of Sinotrans, are taking a commemorative photo. Provided by LX Pantos
Sinotrans is a leading global logistics company from China, ranking first in the world in terms of sea freight volume. In the newly established joint venture, FutureLinks, LX Pantos will hold a 60% stake, while Sinotrans will hold 40%.
Through the joint venture, the two companies plan to build a stable transshipment network centered on the Incheon-Weihai (Shandong Province) route, a key gateway for logistics between Korea and China. They also aim to provide integrated logistics services covering the entire route to major consumer markets such as the United States and Europe.
For example, cargo originating from various regions of China will be transported by sea to Korean ports and then shipped by air from Incheon International Airport to destinations around the world. By actively targeting the rapidly growing demand for sea-air intermodal transportation of e-commerce cargo from China, the new joint venture aims to become a leading intermodal logistics company in Northeast Asia.
In particular, as the recent surge in e-commerce cargo demand in China has outpaced the country's air logistics infrastructure, the strategic value of Incheon International Airport is being highlighted. With its geographical proximity to China and its competitive network connecting 192 cities worldwide, Incheon is emerging as a major transshipment hub for cargo originating from China. According to Incheon International Airport Corporation, last year Incheon Airport handled 118,000 tons of intermodal cargo, an increase of about 20% compared to the previous year.
CEO Lee stated, "This collaboration is a new growth model to secure leadership in the Northeast Asian logistics transshipment market and the result of a long-standing strategic partnership between the two companies. By stably securing the rapidly increasing volume of e-commerce cargo from China, we will contribute to strengthening the competitiveness of the domestic logistics industry."
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