LX Pantos joins hands with Sinotrans for global logistics services JV

[Photo provided by LX Pantos]

South Korea’s logistics company, LX Pantos, is set to form a joint venture (JV) with Sinotrans, one of China’s largest logistics companies, to capture the increasing global shipping demand from major Chinese e-commerce giants such as Ali, Temu, and Shein. This strategic move is expected to significantly boost the logistics industry in South Korea.

On Thursday, LX Pantos announced the signing of a memorandum of understanding (MOU) with Sinotrans at the latter’s headquarters in Beijing. The agreement aims to establish a joint venture dedicated to enhancing multimodal transport services between the two countries and to foster a strategic partnership between the two companies.

According to the 2023 report by global logistics research firm A&A, Sinotrans ranks as the world’s second-largest logistics company by ocean freight volume, while LX Pantos holds the sixth position. The collaboration between these top-tier logistics providers from China and South Korea underscores a significant step towards international cooperation.

The JV will focus on multimodal transport services, facilitating the movement of Chinese-origin cargo to South Korea via sea, followed by air transportation from Incheon Airport to destinations in North America, Europe, and beyond.