Seoul, South Korea - A.P. Moller – Maersk (Maersk) has signed a memorandum of understanding (MOU) with Kumho Tire, one of the world's largest tire manufacturers. The signing took place last week at Kumho Tire’s Headquarter in Jongno-gu, Seoul.
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 revolutionize 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 (40-foot equivalent) volumes per year starting from 2024.
“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,” said, Wan-Ju Lim, Executive Director of Kumho Tire’s Management Planning Division.
Kumho Tire uses Maersk Ocean service for years, while Maersk is committed to providing integrated solutions for customers, the collaboration has now extended to the logistics domain, showcasing the mutual trust and confidence between the two companies.
“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 optimization and the reduction of global supply chain bottleneck issues,” said, Toru Nishiyama, Managing Director of Maersk Northeast Asia.
The signing of this MOU is a clear testament to the dedication of both Kumho Tire and Maersk towards fostering innovation and providing customer-centric services. Looking ahead, this partnership is set to redefine the standards of excellence in supply chain management, serving as an inspiration for similar initiatives across industries.
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