Samsung SDS establishes joint venture with Chinese firm
SEOUL-- Samsung SDS Co., an IT arm of South Korea's top conglomerate Samsung Group, said Tuesday it has agreed to set up a joint venture with a Chinese firm to tap deeper into the logistics business.
Samsung SDS said it agreed with China-based Kerry Logistics to establish a joint venture. Established in 1981, Kerry Logistics provides logistics services to some 42 countries around the globe.
The new venture will be named SDS KERRY (Shanghai) Supply Chain Solutions Ltd., according to Samsung. Other details, including the value of the deal, were not revealed.
The South Korean company said it plans to utilize its competitiveness in the IT industry with the infrastructure of Kerry Logistics.
Samsung SDS earlier established similar ventures with Thai and Vietnamese companies to expand its presence in the Asian market.
Source: Yonhap News Agency