Transoceanic opens Seoul office and starts sales

Transoceanic, an American forwarder dedicated to special project cargo
es, held a reception on October 13th in the Lotte Hotel after they reg
istered at Seoul city hall at the end of August.
This is the first occasion for a large project cargo forwarder to ente
r into the Korean market. Especially, amongst 50 to 100 such forwardin
g companies known for handling special project cargoes, Transoceanic h
as opened their first Korean office, a first in Korea.
Gregory R. Rusovich, president & Chief Operating Officer at Transocean
ic, explained that Korea was acknowledged internationally for steel pr
oduction and welding, two important areas of project cargoes in the la
st few years, citing how many projects moved to Korea from Japan. He f
urther went on to state that Transoceanic has considered the investmen
t environment and labor power in Korea and finally decided to build it
s own office.
Rusovich valued the Korean market highly for a few years in accordance
with its excellent ability to accomplish big project cargoes. Rusovic
h asserted that Korea ruled over only 5 percent of whole project cargo
es 15 years ago and it dominates with a 30 percent share of global pro
ject cargoes nowadays. This fact indicated that Korea acquired outstan
ding competivivity in a global service.
Most of all, it is a prerequisite for project cargoes to be on time be
cause of late fees. Every project cargo incurs huge detention fees if
it is delayed.
The company was established in 1947 and has been dedicated to project
cargoes for over 50 years. This extensive experience and know-how in h
andling project cargoes is a source of pride for Transoceanic.
They also shorten processing time by attaching bar codes to project ca
rgoes and do paperless deals with the help of "Trans-Pack", an Interne
t tracking system.