Launch of K-Logistics TF to Support Stable Export Logistics Infrastructure

- To establish a venue for the regular exchange of overseas investment information and investment cooperation between the public and private sectors

 The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) announced that it would hold the Launch Ceremony for the K-Logistics Task Force (TF) and Meeting with Logistics Company CEOs with representatives of major logistics companies and heads of related public organizations at Lotte Hotel in Seoul on Tuesday, February 4.

 Uncertainty has recently increased in the global logistics market due to major companies’ production bases in Eastern Europe and Latin America and the spread of protectionism. Accordingly, global logistics companies are rushing to prepare strategies to secure stable local logistics infrastructure while closely monitoring market changes.

 MOF will form a public-private joint K-Logistics TF and discuss ways to build a global logistics supply chain with Korean companies to respond to these market changes proactively. Following the launch ceremony of this TF, discussions will be held on analyzing crisis and opportunity factors arising from the restructuring of global logistics supply chains, support measures for the overseas expansion of Korean companies, and cooperation between major logistics companies and overseas logistic support organizations such as the Korea Ocean Business Corporation and Busan Port Authority.

 MOF plans to convene the TF regularly to share key investment information including logistics market trends and local real estate data. It will also provide one-stop solutions from information provision to local investment support, such as linking fund matching and joint investments between the private and public sectors.

 “As uncertainties in the global logistics supply chain are expected to increase this year, strong cooperation between the public sector and private companies is more important than ever for quick response. Through the K-Logistics TF, we plan to provide comprehensive support to help Korean logistics companies systematically establish global supply chains,” Minister Kang Do-hyung said.