The Ministry of Oceans and Fisheries (MOF) of the Republic of Korea (RoK) said on January 5 that it has kicked off a corporate body in Vietnam, paving the way for the operation of a logistics centre in the Southeast Asian country to support small- and medium-sized enterprises.
The Republic of Korea is working to open a logistics centre in Vietnam. Illustrative image (Photo: VNA)
Seoul (VNA) – The Ministry of Oceans and Fisheries (MOF) of theRepublic of Korea (RoK) said on January 5 that it has kicked off a corporate body inVietnam, paving the way for the operation of a logistics centre in theSoutheast Asian country to support small- and medium-sized enterprises.
The launch of K-UPA came as the ministry has been working with thestate-run Ulsan Port Authority to open the centre in Vietnam’s southernprovince of Dong Nai to help Korean firms store goods under room or lowtemperatures.
Under the collaboration with Korea-based logistics firm KCTC, the projectvalued at 18.8 KRW (14.3 million USD), focuses on the construction of a12,000-square-metre centre which is able to store 4.3 million pallets of goods.
The Ulsan Port Authority holds an 80% stake in the project, with the VietnameseKCTC taking up the remainder.
Minister of Oceans and Fisheries Kang Do-hyung said when the centre opens its doors, it willsignificantly enhance the export competitiveness of Korean firms operating inSoutheast Asia.
The centre is expected to become operational in December this year, with thefull service set to begin by July 2025. It will offer discounts of around10-15% for small and medium-sized companies of the RoK./.
Ho Chi Minh City topped the first-ever Vietnam Provincial Logistics Competitiveness Index (LCI) 2022, followed by Hai Phong, Binh Duong, and Ba Ria – Vung Tau and Hanoi, according to a report recently announced by the Vietnam Logistics Association (VLA).
The development of logistics infrastructure, improvement of loading and storage capacity, and formation of a regional – level logistics service centre will help Vietnam better embrace the upcoming global supply chain shifts, experts said at a logistics forum held by the Ho Chi Minh City Logistics Association (HLA) in the city on November 29.
Vietnamese logistics firms have been advised to work harder to enhance their productivity, service quality and competitiveness amid current difficulties due to global economic instability.
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The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
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The Republic of Korea is working to open a logistics centre in Vietnam. Illustrative image (Photo: VNA) 
