Hanjin Logistics Corporation opens container depot in Thailand

Industry

Published: 09 Jun. 2023, 16:46

Hanjin Logistics Corporation opens container depot in Thailand

Officials, including Noh Sam-sug, third from right, and President & CMO of Hanjin Logistics Corporation Emily Cho, fourth from right, pose for a photo at the grand opening of the Laem Chabang container freight station in Thailand on Thursday. [HANJIN LOGISTICS CORPORATION]

Hanjin Logistics Corporation entered Thailand's logistics market with the opening of a new container depot at Laem Chabang port on Thursday.

Hanjin acquired a 14 percent stake in the local logistics firm KSP Depot for $830,000, allowing it to participate in container freight station (CFS) operations, the Korean logistics company said Friday.

A CFS serves a role in the storage, distribution, and handling of containerized cargo.

With the establishment of the CFS facility, Hanjin plans to introduce a comprehensive "one-stop logistics" service that seamlessly integrates with domestic transportation networks throughout Thailand.

Hanjin's expansion plans go beyond Thailand, as it aims to extend its business to neighboring markets such as Vietnam, Laos, and Cambodia, focusing on forwarding services and cross-border transportation.

The Laem Chabang CFS, operated by KSP Depot and located 1.6 kilometers (0.9 miles) from Laem Chabang Port, covers an expansive area of 9,000 square meters (96,875 square feet).

Hanjin currently operates 12 subsidiaries globally, including in the United States, China, and Europe. In Southeast Asia, the company manages four subsidiaries in Myanmar, Vietnam, Cambodia, and Indonesia, along with representative offices in Thailand and Singapore.

"We, as the major shareholder in a local logistics company, look forward to developing an extensive one-stop logistics system within Thailand, encompassing inland transportation," a Hanjin official said. "The center's establishment presents a noteworthy opportunity to explore new avenues in global logistics business, such as in forwarding services, across Southeast Asia."

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]