Latest news with #LotteGlobalLogistics
Korea Herald
31-03-2025
- Business
- Korea Herald
AmCham partners with Lotte Global Logistics to expand US product distribution
The American Chamber of Commerce in Korea said Friday that it has signed a memorandum of understanding with Lotte Global Logistics, marking the third major partnership under its "Buy America" campaign. The agreement follows earlier collaborations with Homeplus and Yido. At the signing ceremony held in Seoul on Thursday, AmCham Chairman and CEO James Kim and Lotte Global Logistics CEO Kang Byoung-ku agreed to enhance logistics capabilities and support the expansion of US product procurement in Korea. Alexei Kral, minister-counselor for economic affairs at the US Embassy in Seoul, also attended the meeting. 'This partnership is a significant milestone in ensuring high-quality American products can enter the Korean market more smoothly,' said Kim. 'We are looking forward to creating sustainable growth opportunities and fostering continuous trade and economic cooperation between the US and Korea.' Kang also welcomed the partnership, saying, "We are pleased to collaborate with AmCham and will continue to enhance our logistics capabilities to create synergies and strengthen bilateral trade relations.' Under the agreement, Lotte Global Logistics will leverage its expertise in logistics across both the US and Korea to optimize supply chains for imports of US products. Specifically, the company said it will offer competitive rates and tailored logistics solutions to AmCham members while continuing to invest in logistics infrastructure to support long-term trade expansion. AmCham said it will work with government-affiliated organizations to promote deregulation and policy support, facilitating a more efficient and seamless import process.
Korea Herald
20-03-2025
- Business
- Korea Herald
Temu secures first logistics hub in Korea: reports
Chinese e-commerce platform Temu has reportedly signed a long-term lease for a large logistics center in Gimpo, Gyeonggi Province, marking the first time a Chinese e-commerce operator has secured a logistics facility in Korea. According to news reports, the new logistics center spans an area equivalent to 23 football fields and is equipped with both high- and low-temperature storage facilities. The company is also said to be considering establishing its Korean headquarters at the site. Strategically located near major airports and seaports, including Incheon Airport, the center is expected to serve as a key logistics hub for Temu's Korean operations. Lotte Global Logistics, a subsidiary of Lotte Corporation, will oversee its management and operations. Although Temu entered the Korean market four years later than its larger rival, AliExpress, the company is rapidly expanding its presence. Last year, it began recruiting Korean sellers for its online marketplace, and now, with the establishment of its first logistics center, it appears to be strengthening its foothold in Korea.
