Dongwon to start new auto parts logistics venture

Dongwon Group will establish the new venture “Next Lo” next month to strengthen the group's competitiveness in auto part logistics. An affiliate of Dongwon Loex, the group’s logistics unit, Next Lo specializes in all aspects of auto part...

[NEXT LO]

Dongwon Group will establish the new venture “Next Lo” next month to strengthen the group's competitiveness in auto part logistics.

An affiliate of Dongwon Loex, the group’s logistics unit, Next Lo, specializes in all aspects of auto part logistics.

The company name is a portmanteau of "next" and "logistics," embodying the corporate vision of building a sustainable business with stable logistics infrastructure.

Next Lo plans to expand its logistics infrastructure and build an eco-friendly logistics system.

Before the official launch of the company, Next Lo signed a partnership agreement with auto parts maker Hyundai Mobis at its headquarters in Gangnam District, southern Seoul, on Friday to build a stable cooperative relationship.

Through the partnership, the company aims to secure more auto parts maker as clients.

Executive Director Lee Dong-ho of Dongwon Loex was appointed as Next Lo’s CEO.

“We will strategically move forward amid the fast-changing logistics industry to strengthen our expertise in our business of distributing auto parts and continuously increase management efficiency,” Lee said in a statement.

Dongwon Loex is a logistics company founded in 2019 by joining Dongwon Group’s prior logistics business Loex with Dongbu Express, which it acquired in 2017.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]