China Shipping establishes Korean holding company
China Shipping Container Lines last week in Seoul established the independent regional holding company CSCL (Korea) Holdings Inc.
The Chinese carrier said the new company will “increase input into Korean market and explore shipping, port, logistics, vessel management, airline, real estate investment related business and form a portfolio of varied industries and large scale.”
According to China Shipping, the bilingual trade between China and Korea reached $90 billion in 2004, with China becoming the top trade partner, export target country and number three trade target country to Korea.