New Tool: ProSource
Checkout our packaging and processing solutions finder, ProSource.
Start Your Search

Anticipating a Logistics Boom in South Korea

While the status of U.S./Korean negotiations understandably makes headlines, E-commerce and international investment bode well for South Korea’s logistics business.

According to a May 28, 2018 article, “the weight of foreign capital has been the impetus behind a series of new-generation developments and high-specification logistics projects.”

E-commerce shopping is burgeoning in South Korea, yet “many of the country’s warehouses and distribution centers have failed to keep pace with consumer or investor demand,” says the story, which ranks South Korea as the fourth-largest third-party logistics market in the Asia-Pacific region. The article notes the country’s 7.8% annual growth rate tops Japan, Australia and Singapore.

Concurring with the E-commerce growth is Research and Markets’ recent report, “South Korea Logistics & Warehousing Market 2017-2021-Increasing Investment Activity and E-Commerce Logistics to Drive Future Growth.”

Focusing specifically on the life sciences industries, a Feb. 9, 2018 story in TheInvestor said the South Korean government’s vision “is to create some 35,000 new jobs in the growing bio and healthcare sector and to pull up the nation’s global market share from the current 1.8% to 4% by 2022.” The article noted its government was consolidating medical information from hospitals to “establish a comprehensive database as part of its goal to foster the country’s lucrative pharmaceutical and healthcare industries.”

Test Your Supply Chain Smarts
Take Healthcare Packaging's supply chain quiz to prove your knowledge!
Take Quiz
Test Your Supply Chain Smarts
Discover Our Content Hub
Access Healthcare Packaging's free educational content library!
Unlock Learning Here
Discover Our Content Hub