Qxpress Pte. Ltd., a leading Pan-Asia Cross Border logistics company headquartered in Singapore, has acquired a 100% interest in KorChina Logistics Holdings Limited. The transaction which was signed in July closed today (October 4).
Korchina is a leading international freight forwarding and third-party logistics company with a global footprint, especially in Asia. Korchina’s network spans 17 countries and covers most of the major markets in Asia, including China, Thailand, Korea, Japan and Singapore.
Qxpress and Korchina together are expected to create significant immediate and long-term synergies, allowing for expanded service offerings for both of the companies’ customers and provide cost savings and efficiencies throughout the logistics value chain.
Mr. Young Bae Ku, CEO and founder of Qxpress stated, “We are pleased to bring Korchina’s family into ours and look forward to providing all stakeholders enhanced services, expanded coverage and lower and efficient costs across all of the markets that are important to freight and e-commerce logistics customers in Asia and beyond. The expanded demand for cross-border e-commerce logistics through rapid expansion of B2C as well as D2C demand will continue to drive further growth for both companies.”
Qxpress will be able to provide key expanded services for Korchina’s extensive customer base, including access to D2C logistics capabilities and expanded footprint for an end-to-end logistics platform, including integrated warehouse services as well as pick and pack and fulfilment services. Qxpress will be able to take advantage of the expanded geographic scope that Korchina possesses, as well as take advantage of long-term relationships with vendors and other partners that will allow for reduced freight and customs related processing costs.
About Qxpress Pte. Ltd.
Qxpress is a leading Pan-Asia Cross Border logistics company with smart back-end operations, which has been built and tailored for SMEs to scale their businesses easily across the region through e-commerce. Headquartered in Singapore, Qxpress’ logistics solutions are used by sellers on some of Asia’s leading e-commerce platforms. Qxpress has an extensive global supply chain network (distribution centres in 9 countries and growing), equipped with strong logistics and fulfilment service offerings.
About Korchina Logistics Holdings Limited
Korchina Logistics Holdings Limited is a leading international freight forwarding and third party logistics company headquartered in Hong Kong. Korchina launched its logistics business in 1994. Along with 38 overseas branches and over 1,000 staff over the world, Korchina Logistics has developed a strong and reliable partner network worldwide.