Logistics Expansion in China
Lotte Global Logistics signed a memorandum of understanding with Yunda Express in Shanghai on January 9 and ZM Logistics on the following day so that their logistics infrastructure can be better shared. Yunda Express is one of the three largest parcel service providers in China and its clients include Alibaba, JD.com, Suning and many more.
Lotte Global Logistics is currently recording an average annual growth rate of 40% in its overseas direct purchase business and the company’s special delivery facilities located at the Incheon International Airport are handling 300,000 overseas direct purchase items a month. With the company providing export customs clearance and air transport with regard to products exported from South Korea to China as well, the MOU is likely to be a boon for its export and import business covering the two countries and its parcel delivery business expansion in China.
The MOU with ZM Logistics is for Lotte Global Logistics to expand its business in China in the fields of cold chain logistics and third-party logistics. ZM Logistics is one of the largest cold chain logistics companies in China and it is currently focusing on electronic business and purchasing service-related business. The two companies are planning to link Lotte’s logistics center located in Qingdao and ZM Logistics’ 30 or so warehouses in China to each other in the interest of business stability and third-party logistics expansion.