The advance of Hyundai-express into Chinese 3PL market

Hyundai-express recently entered the Chinese 3PL market by collaborating with a Chinese cargo transportation company.

Hyundai-express revealed November 3 that they had invested one million dollars in 'Shanghai Asia Shipping International Freight Forwarding Co., Ltd.', which is a subsidiary company of 'Dongbang International', a trading company in China, and took over 45% of all quota. They are now the major stockholder in the company.

Hyundai-express will set to work from next year after changing the company name to 'Hyundai Asia Shipping-Shanghai International Freight Forwarding Co., Ltd.'.

First, they plan to expand work in shipping, air and freight forwarding, so they plan to expand to 3PL work such as customs clearance, transportation, and warehouse management in China from now on.

One insider from Hyundai-express said, "This investment will allow us to offer more convenient service to domestic enterprises in China," and added, "The setting up of the Shanghai corporation will be an important opportunity for us to create a 3PL network in places of major importance in the world."