Kumho Asiana, Saigon Port inks joint venture deal

The Korea Express Company Ltd. Tuesday signed a joint venture with Saigon Port Company to set up a US$4-million logistics firm in Vietnam.

The new company will provide logistics, warehouse, transport and repair services.

It has already won a contract to provide logistic and container-loading services at Posco Group’s port in Ba Ria-Vung Tau Province.

Nguyen Uyen Minh, Director of the Ba RiaVung Tau branch of Saigon Port Company, said the joint venture would begin operations next month.

Korea Express’ parent Kumho Asiana broke ground in Ho Chi Minh City in October 2006 for a $260 million residential-commercial plaza and $155 million tire plant.

The group’s Asiana Airlines operates daily flights to HCMC and Hanoi from Seoul.

Vinh Bao

thanhnien

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