Hanjin Transportation steps up presence in Southeast Asia
SEOUL, Aug 22, 2009 (Asia Pulse Data Source via COMTEX) -- HAACF | Quote | Chart | News | PowerRating-- Hanjin Transportation Corp., the logistics unit of South Korea's Hanjin Group, said Friday it has set up a branch in Cambodia in a bid to enter the Southeast Asian market.
The branch, established earlier this month in the capital Phnom Penh, has started providing overall logistics services to local residents and businesses, the company said.
The company plans to use the Cambodian branch to further extend its service network to neighboring countries, including Vietnam, Laos and Thailand, expanding infrastructure and diversifying its services.
"Cambodia is still a frontier market in the industry but it's got huge potential. We expect that occupying the market early will have a positive effect on Hanjin's entrance into the Southeast Asian market," said Lee Sung-kyun, manager of Hanjin's Phnom Penh branch office.
Hanjin Transportation, which operates an array of services from cargo shipping, to logistics and car rentals, posted 855.3 billion won (US$684 million) in sales last year.
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