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Hyundai Merchant to Set Up Logistics Center in China
Date
2012.02.24
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Hyundai Merchant Marine Co., South Korea's No.2 shipping line, said Friday that it has established a joint venture with a Chinese firm for a logistics center in the world's second-largest economy.

The joint venture will build an on-dock container yard in Qingdao which can handle 310,000 20-foot-equivalent units (TEUs) annually, and other facilities to repair damaged containers.

Hyundai Merchant said it will spend 11.6 billion won (US$10.3 million) on the joint venture, and could earn $1 million a year by providing a variety of logistics services.

The company added that it plans to build other facilities in the center such as a refrigerated warehouse.

Source Text

 

Source: Yonhap News (Feb. 24, 2012)

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