South Korean logistics company Hanjin Transportation Co. said Wednesday it will strengthen its global business to nearly triple the segment's revenue in the next three years.
The company said in a statement it is targeting to boost sales from the global business division to 1 trillion won ($789 million) by 2025 from 375.5 billion won in 2021.
To that end, Hanjin will seek to establish a digital forwarding platform, bolster its cross-border e-commerce through the expansion of its global distribution center at Incheon International Airport, west of Seoul, and develop a global one-click platform.
"The world logistics market is expected to keep growing despite a global economic crisis," a company official said. "Hanjin is targeting to emerge as a smart global logistics solution provider by focusing on further expanding its global network."
Hanjin said its subsidiary in the Americas will ramp up efforts to tap deeper into consumer-to-consumer business in the region after expanding a warehouse in Los Angeles to bolster its business-to-consumer segment.
Its Chinese subsidiary will push to explore and expand new e-commerce logistics services in East Asia.
Last year, Hanjin expanded its branch office in Phnom Penh into a Cambodian subsidiary, and it is planning to convert its Jakarta office into a corporation. In addition, the company is moving to set up a logistics hub centering around Thailand and Singapore.
Hanjin, which currently operates a Uzbek subsidiary and a European unit, said it is planning to launch an office in Poland this year. (Yonhap)