SEOUL: August 19, 2016. Information and communication technology company Samsung SDS (SSDS) says it will enter the Vietnamese market via a joint venture with terminal operator Aviation Logistics Corporation.
Vietnam is the second destination in the company's Southeast Asia expansion plans. Last month it set up a similar joint venture with Thai Customs broker Acutech.
Samsung Electronics, SSDS's largest customer, exported US$32 billion to Vietnam in 2015, 20 percent of all Korean exports to the country. According to SSDS, it handles about 40 percent of cargo traffic through Hanoi.
The joint venture with ALS will enable SSDS to leverage its partner's customer base and provide integrated logistics services throughout the country - including global and inland transportation, warehousing and Customs brokerage.
"Considering ALS's local network and diverse business capabilities we decided that Vietnam was the most optimized partner for Samsung SDS," said Kim Hyung-tae, executive vice president of smart logistics business unit at Samsung SDS. "With this agreement we will continue to expand our business in the Southeast Asian market."
ALS set up the first off airport freight terminal in Vietnam in 2007. In May this year it began handling for Turkish Cargo (above) and its twice-weekly A330-200 freighter service to Hanoi.