DHL Korea establishes Joint Venture in Korea

DHL, a global forwarding company based in the U.S. (former general agent in Korea: Il Yang Express) launched a joint venture company in Korea January 16th, 2000. It was made on the basis of investment from Il Yang Express, which has been DHL's general agent in Korea for the last23 years, with a 90% stake and DHL with 10%. Pae Kwang-woo, ex-president of Il Yang Express took office as the new president of DHL Korea. He said that DHL has occupied over 50% of the domestic market and will try to gradually expand into advanced global logistic services, having Korean business to save logistic costs and time and to reshuffle their competitiveness in the international market.

DHL Korea expects to proceed with fast customs clearance, storage, and delivery, acquiring large bonded stores and logistic areas equipped with facilities in the new Inchon international airport, which opens this coming March.