Danish container shipping company Maersk signed a memorandum of understanding (MoU) with South Korean tire manufacturer Kumho Tire last week with the signing taking place at Kumho Tire’s headquarters in Jongno-gu, Seoul.
In particular, the partnership seeks to combine Maersk’s expertise in global transport and logistics with Kumho Tire’s strong foothold in the automotive sector.
This collaboration is poised to revolutionise Kumho Tire’s supply chain management, leveraging Maersk’s fourth-party logistics (4PL) visibility solution for a five-year period, along with domestic intermodal services for three years. Maersk is expected to manage more than 40,000 FFE volumes per year starting from 2024.
“The expansion of collaboration reflects Kumho Tire’s recognition of our expertise in delivering end-to-end logistics solutions that cater to their evolving business needs. We constantly push boundaries and set new standards in supply chain management,” commented Toru Nishiyama, managing director of Maersk Northeast Asia.
He added, “This extended partnership is expected to deliver substantial benefits, not only in enhancing operational efficiency for our customers, but also in generating significant cost savings and enabling effective end-to-end stock level management through route optimization and the reduction of global supply chain bottleneck issues.”
