[THE INVESETOR]
Samsung SDS, the IT solutions and logistics unit of Samsung Group, said on July 11 it has agreed with Thailand’s Acutech to set up a joint venture to expand its presence in the soaring Southeast Asian logistics market.
Acutech, established in 1987, is Thailand’s largest logistics company whose key clients include electronics, automotive parts and food makers.
Samsung SDS headquarters in Jamsil, southern Seoul
Taking advantage of Acutech’s client base in the region, Samsung SDS plans to offer its comprehensive logistics solution, called Cello, to allow corporate clients to operate and manage their logistics business and networks.
Thailand is an attractive market for logistics companies as it serves as a transportation hub in Southeast Asia and its top export products include automotive and electronics parts.
Among other things, Samsung SDS pointed out that collaborating with a local partner is crucial in the country where foreign companies cannot own more than 50 percent stake in retail, construction and logistics companies.
“Samsung SDS handles the largest amount of materials in Thailand among Southeast Asian countries it operates in. Through the planned joint venture with Acutech, we hope for large business synergies,” said a Samsung SDS official.
The company added it is also discussing partnership with other companies such as those in Vietnam and China to further accelerate its growth in the logistics market.
By Lee Ji-yoon (
jylee@heraldcorp.com)