Aramex enters Korean market

   Aramex, a Dubai-based freight logistics services provider, has formalized its entry into the South Korean economy by signing a service partnership agreement with CJ GLS in Seoul.
   CJ GLS, set up in 1998, has 74 distribution centers and 25 offices spread across 12 countries in Asia, Europe, and North America.
   The companies cited the South Korean economy and its potential as the main reason for establishing their cooperation.
   According to figures released by the Korea International Trade Association, the volume of trade between Gulf Cooperation Council countries (GCC) and South Korea reached $113 billion in 2011 with exports from Korea to the GCC growing by 38.2 percent, reaching $17.3 billion. The GCC is South Korea’s second biggest trading partner, behind only China.
   The joint effort between Aramex and CJ GLS is consistent with Aramex’s overall expansion strategy. Aramex entered a similar scenario in China with the launch of a joint venture company with SinoAir, and expanded in Africa at the end of 2011 when it purchased OneWorld Courier and In-Time Couriers in Kenya, and Berco Express of South Africa.