Establishing POSCO FLOW (THAILAND) to provide competitive logistics solutions and freight rates to POSCO Group companies in Thailand
POSCO FLOW (President Ban Don-ho) has entered the Southeast Asian logistics market by signing a Joint Venture Agreement (JVA) with Thai logistics company Kerry Siam Seaport (KSSP) on February 14 in Bangkok, Thailand, to establish the logistics joint venture POSCO FLOW (THAILAND).
▲ Representatives celebrate signing the Joint Venture Agreement (JVA) to establish POSCO FLOW (THAILAND) in Bangkok on February 14. (From left: Park Min-gi, General Manager of POSCO TCS; Kim Hak-il, Team Leader of POSCO THAINOX; Ha Jong-beom, Team Leader of POSCO FLOW; Ellis Cheng, CFO of KLN; Supawiratchpuncha, Executive Director; Benjathaonsirikul, Executive Director)
KSSP, headquartered in Bangkok, Thailand, is a Hong Kong-based Kerry Logistics Network (KLN) Group subsidiary. The company operates terminals around Laem Chabang Port, adjacent to major industrial complexes, including POSCO Group’s Thai subsidiaries.
KSSP is noted for its excellent terminal security and quality control, along with sufficient infrastructure to meet the growing demands in Southeast Asia. Through this joint venture with KSSP, POSCO FLOW has secured a solid foundation for Southeast Asian expansion.
After a year of preparation, both companies have established this cooperative framework through the joint venture. Through POSCO FLOW (THAILAND), the company will provide logistics services that help strengthen the competitiveness of POSCO Group companies in Thailand.
Since its launch in 2022, POSCO FLOW has expanded its logistics network to Europe, North America, and China based on its master plan for operating an integrated global logistics network. With this joint venture, the company plans to strengthen its presence in Southeast Asia by using Thailand as a hub.
POSCO FLOW (THAILAND) will provide logistics services, including transportation, storage, and loading/unloading of materials and products for POSCO Group companies in Thailand. The company plans to internalize logistics capabilities by directly operating loading/unloading and land transportation services while enhancing profitability by attracting new regional cargo volume and expanding joint logistics operations.
Ha Jong-beom, Head of Steel Logistics Division, stated, “Based on the Thai subsidiary, POSCO FLOW will first secure steel logistics competitiveness in the Thai market and use this as a stepping stone to expand our business into the Southeast Asian market. Through cooperation with KSSP, we will strive to provide optimal logistics solutions to POSCO Group companies in Thailand and contribute to securing their cost competitiveness.”