KLN Subsidiary Kerry Siam Seaport and South Korean Steelmaker POSCO Group Subsidiary Form Joint Venture to Strengthen Steel Logistics Capabilities in Thailand and Southeast Asia
HONG KONG, Feb. 20, 2025 /PRNewswire/ -- Kerry Logistics Network Limited ('KLN'; Stock Code 0636.HK) has formed a joint venture, POSCO Flow (Thailand), through Kerry Siam Seaport ('KSSP'), its subsidiary in Thailand, with POSCO Flow, the logistics arm of POSCO Group, the largest steelmaker in South Korea. Under the partnership, KLN will act as the preferred logistics partner of POSCO Flow (Thailand) and provide comprehensive port and logistics support to POSCO Group's subsidiaries in Thailand as well as other markets in Southeast Asia.
KSSP has been serving POSCO Group since 2017 for all their nominated vessels in Thailand, providing services including port, warehousing, transportation, customs clearance, stuffing/unstuffing, stevedoring and container freight.
POSCO Group, a Fortune 500 company, has production facilities in 16 countries across Asia, the Americas, Africa, Europe and Oceania. The joint venture in Thailand will be a blueprint to further KLN and POSCO Group's collaboration and strengthen both companies' steel logistics capabilities in Southeast Asia and worldwide.
Ellis Cheng, Executive Director and Chief Financial Officer of KLN, said, "The establishment of POSCO Flow (Thailand) is a milestone in the long-term collaboration between KLN and POSCO Group. Through this partnership, we not only support POSCO Group's expansion into Thailand's logistics market but also enhance the service capabilities of both companies, leveraging KLN's proven track record and solid presence in Southeast Asia and worldwide. The joint venture is a testament to the service excellence of KSSP and enables KLN to set new benchmarks in industrial logistics."
Ha Jong-beom, Head of Steel Logistics of POSCO Flow, said, "This joint venture will enable us to secure a competitive advantage in the steel logistics market in Thailand and lay the foundation for expanding our business to the Southeast Asian market. Through this cooperation with KSSP, we will strive to provide the best logistics solutions to the companies under POSCO Group in the region and contribute to their cost competitiveness."
KSSP is a multi-purpose deep sea port located at the heart of ASEAN that provides wide berth docking, container operations and warehousing services in one strategic location, serving the industrial estates on Thailand's eastern seaboard and in the Greater Mekong Region. Its joint venture with POSCO Flow marks a major step in the extension of KLN's industrial project logistics footprint in Asia.
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About Kerry Logistics Network Limited (Stock Code 0636.HK)
KLN is an Asia-based, global 3PL with a highly diversified business portfolio and extensive coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal) and e-commerce to industrial project logistics and infrastructure investment.
With a global presence across 59 countries and territories, KLN has established a solid foothold in half of the world's emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.
KLN generated a revenue of over HK$47.4 billion in 2023. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index.
SOURCE Kerry Logistics Network Limited
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