Expanding investment in logistics hubs

In the age of globalization, values in the market are not created through production but through the supply chain of logistics precisely responding to the demands of the market.

Shippers call for advanced supply chain to smoothly procure materials and parts, link globally specialized production activities and enhance competitiveness in sales markets around the world.

In the end, we need to invest in global logistics infrastructure to boost exports and have competitive logistics service that shippers around the world want, using overseas bases.

What’s more important is the human infrastructure.

When small and medium-sized businesses operating abroad secure local logistics capacity, including marine transport, loading and unloading, transport and storage, we can have overseas logistics competitiveness and expanded new market. When 10,000 young workers in the supply chain are assigned at 200 to 300 international trade hubs around the world, 30 to 50 in each hub, they will make great contribution on expansion of overseas markets for Korean companies and enhanced logistics competitiveness for Korean products.

Lately, skilled supply chain management (SCM) experts for logistics consulting, such as market forecast, IT-based warehouse management system (WMS) and transport management system (TSM) are in high demand. If Korean marine transport service, port service, supply chain management service professionals with IT-based skills and local market prediction capability are working locally, Korean shippers can get solid support when expanding abroad.

Korea needs to expand investment in local logistics hubs in other countries and establish local Korean supply chain human network for the second global expansion, and it will provide a new growth engine for the Korean economy.

*President of the Korea Maritime Institute.

Yang Chang-ho