Market Chatter: Hanjin Logistics Establishes China JV to Expand into Asian Market
Hanjin Kal (KRX:180640) subsidiary Hanjin Logistics launched a joint venture with China's AWOT Global to expand into the Chinese and Asian logistics markets, Yonhap News reported Friday.
The 35:65 joint partnership, which will combine Hanjin's global logistics expertise with AWOT's local transportation resources, aims to support increasing e-commerce demands at economical prices, the report said.
Shares of Hanjin Kal fell over 1% in recent trade.
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