Heung-A to establish subsidiary in Shanghai

Heung-A Shipping plans to establish a logistics subsidiary in China.

The company announced on January 23 that it decided to set up a logistic company for international multimodal transportation, customs services, warehousing and third party logistics business in Shanghai. They will invest 980 billion won (USD 1 million) to establish the company.

One insider from Heung-A said, "We determined that establishing the subsidiary would help organize our logistic network throughout Asia and China."