A.P. Moller – Maersk (Maersk) has inked an agreement with Kumho Tyre, one of the world’s major tyre producers.
The agreement was reportedly signed last week at Kumho Tire’s headquarters in Jongno-gu, Seoul. The collaboration aims to combine Maersk’s expertise in global shipping and logistics with Kumho Tire’s strong presence in the automotive industry.
This partnership is set to transform Kumho Tire’s supply chain management by employing Maersk’s fourth-party logistics (4PL) visibility solution for five years, as well as domestic intermodal services for three years.
Beginning in 2024, Maersk is expected to manage more than 40,000 foot equivalent (FFE) volumes each year.
Wan-Ju Lim, Executive Director of Kumho Tire’s Management Planning Division, said: “Kumho Tire is pleased to cooperate with Maersk as a logistics partner. Through this agreement, we will continue to strive to provide services that can increase customers’ convenience and satisfaction based on a stable and efficient logistics system.”
Toru Nishiyama, Managing Director of Maersk Northeast Asia, stated: “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.
“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 optimisation and the reduction of global supply chain bottleneck issues.”