Integration will enable port operator to offer better service to our customers in South Korea and beyond
DP World has agreed to acquire a 60 per cent shareholding in South Korea’s UNICO Logistics Co. Ltd.
The transaction, subject to regulatory clearances, is expected to close in Q4-2020, and represents another strategic step in DP World’s vision to build an integrated suite of service offerings that will connect directly with end-customers and beneficial cargo owners to remove inefficiencies in the supply chain and accelerate trade growth.
Established in 2002 by HJ Park, UNICO has a global footprint of 25 subsidiaries in 20 countries and is one of the largest independent NVOCC (Non-Vessel Operating Common Carrier) in South Korea.
UNICO is a multimodal transport specialist with strong market position in the fast-growing transcontinental rail freight market between East-Asia and Central-Asia and Russia, in particular on the strategically important Trans-Siberian Railway (TSR) and Trans China Railway (TCR).
The acquisition is in line with DP World’s global strategy to grow as a smart supply chain solutions provider and will provide a platform to drive synergies between UNICO and DP World operations in the Asia Pacific and European regions, while also continuing the expansion of logistics capabilities within DP World’s portfolio.
“By integrating Unico into our worldwide network we will be able to offer better service to our customers in South Korea and beyond,” asserted Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.
“Being part of DP World will allow us to develop further from the Group’s deep relationship with end-customers and wide global network,” observed HJ Park, President and CEO, UNICO Logistics.
