LX Pantos to establish logistics joint venture with China's Sinotrans to meet growing demand for e-commerce from China in Europe (Korea)

Logistics company LX Pantos has established a joint venture (JV) with China Transport (Sinotrans), a major Chinese customs brokerage and logistics company, to handle transportation business in Korea and China, and is building a partnership.
The two companies signed a memorandum of understanding (MOU) that outlines the two companies' operations. Under the MOU, the two companies will transport cargo from China to a port in Korea, where it will then be transported by air via Incheon International Airport to Europe and the US.
A joint venture will be established to carry out multimodal transport between Korea and China. Recently, electronic commerce (EC) with China as the shipping point has increased, and the demand for multimodal transport between Korea and China has also increased sharply. According to Incheon International Airport, in 2023,
The volume of cargo handled by Korea-China combined transport reached 98,560 tons, up 43% from the same period last year. Cooperation between the two companies, utilizing their global logistics networks and infrastructure, is also expanding.
LX Pantos is able to provide services such as transportation, storage, and customs clearance in Europe, the US, and other countries by utilizing its network of 380 locations around the world, the largest in the Korean industry.
On the other hand, China Foreign Transport excels in transportation services that utilize rail and trucks for logistics within China and from China to Europe.
Lee Young-ho, CEO of LX Pantos, said, "This MOU will strengthen the relationship between the two companies in the global logistics business.
"We aim to strengthen cooperation and create synergy."