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'Jumps into high added-value logistics businesses, including international courier service, nuclear power plant logistics'
Pantos Logistics declares Vision 2020
; aims for 12.3 trillion won in sales
; strengthens global competitiveness
- Advances into new businesses, including B2C international courier services, domestic and overseas inland shipping, W&D -
- Aggressively expands operations, including chartered flight, large-scale heavy freight transportation businesses -
- To increase China sales to 4.2 trillion won; drastically expand marketing, sales and onsite manpower -
Pantos Logistics (CEO Yeo Sung-koo), Korea's largest logistics company, held a 2020 Vision Declaration Ceremony at the company's headquarters in Yeouido, Seoul on April 22. Under the vision, the company put forward business goals that call for 12.3 trillion won in annual sales and joining the league of the world's top 10 logistics companies," and presented the managerial vision of a "Top-class logistics partner that materializes customer satisfaction through best values," together with the slogan, "Your Precision Planning Partner, Pantos!" In attendance at the ceremony were CEO Yeo Sung-koo, and COO Bae Jae-hoon, as well as more than 200 executives and staff members, including those from the headquarters and overseas operations.
In order to attain the managerial goal for 2020, Pantos Logistics has singled out three growth strategies, namely, "Expansion of business scope, expansion of the geographical scope of business operations, and expansion of customer base," and will seek to materialize a business model wherein its diverse logistics businesses, including international courier service and chartered flight business, generate strategic synergy effects on the basis of its freight forwarding business. Notably, by banking on massive freight handling volumes that include 300,000 tons of air cargo, and 1.7 million TEU of marine shipping, the company plans to maximize its competitiveness in costs and service to benefit freight owners and other customers.
Above all, Pantos Logistics will advance into B2C international courier service in order to expand business areas. The company plans to expand its international courier service business, which it had been conducting primarily for business customers, and widen the scope of that business to include B2C international courier service through strategic partnerships with manufacturing and distribution companies. By allowing general consumers to experience Pantos Logistics' services, the company is expected to enhance its visibility and credibility. In addition, Pantos Logistics plans to actively pursue the inland transportation business focused on trucking operations in the Americas, Europe and China, as well as in Korea. By linking with international forwarding operation, the company plans to conduct W&D operation, namely warehousing centers, storage business, and diverse delivery operations, so as to provide one-stop global logistics services to enhance customer satisfaction.
Moreover, Pantos Logistics will expand the chartered flight business in an aggressive move. The company already signed in 2009 a "treaty on air freight transportation" with Atlas Air Worldwide Holdings, the parent company of Atlas Air of the U.S., the world's largest air cargo carrier, thus kicking off its chartered flight business. This year, the company plans to expand strategic partnerships with multiple global air carriers, and establish air cargo logistics hubs in diverse locations of the world to expand its operational capacity. Additionally, Pantos Logistics plans to proactively participate in the nuclear power plants logistics business in the Middle East region by banking on its experience in successful conduct of many ultra large heavy weight freight transportation projects, through which it took part in the construction of petrochemical plants, including those in Saudi Arabia, Oman, Kuwait, the United Arab Emirates, and Qatar, for more than 10 years.
Meanwhile, Pantos Logistics plans to expand its Chinese operation, and increase its China sales from the current 500 billion-won level to 4.2 trillion won, and thus raise the portion of its Chinese operation on par with that of Korea. Also, the company plans to expand its overseas business network to secure a network of over 200 overseas operations through 2020 by adding new overseas affiliates in South Africa and South America by the year's end, on top of its existing overseas operating network that includes 83 overseas affiliates and branches in 35 countries worldwide. Furthermore, the company aims to increase the number of employees from current 2,500 to over 8,000 by 2020, as it aims to drastically expand manpower in sales and marketing and field operations to elevate its status as a global logistics company.
Pantos Logistics CEO Yeo Sung-koo said, "Just as Pantos Logistics has developed to a leading logistics company that is representative of Korea through its Vision 2010, the company will take a leap forward to become a world-class logistics company in the areas of service and price competitiveness, and of customer satisfaction." Yeo added, "I urge you to watch us grow to a global general logistics company that is on par with foreign-based logistics firms, including DHL and FedEx," expressing strong confidence in his company's success.