Samsung SDS – the IT solutions and logistics arm of Samsung – is expanding its presence in air cargo through the acquisition of Korean airfreight consolidator Woojung Air Consolidation.
Local media report that Samsung SDS today announced the acquisition of 100% of the shares in Woojung Air, which was established in 1999.
The company is based at Incheon Airport and offers consolidation, booking, loading, customs clearance, regulated agent services and real-time tracking, as well as a logistics centre at the Incheon free trade zone.
The company’s digital logistics services are offered through its i Nomad platform.
The deal is expected to be completed by the end of the year. Terms of the deal were not disclosed.
The two companies are no strangers and in 2022 they signed a memorandum of understanding to incorporate Woojung Air’s specialised air logistics services, such as real-time freight location tracking and freight charge information, on Samsung SDS’ digital logistics platform Cello Square.
Through the co-operation, users of Samsung SDS Cello Square are able to check the entire process of airfreight transportation through the data provided by Woojung Air, including cargo arrival, airport clearance procedure, aircraft loading, arrival at destination airport, unloading and storage at destination warehouse.
In addition, Samsung SDS and Woojung Air aimed to jointly develop international air logistics services that can help boost the sales of Korean e-commerce sellers in global markets, including the US, Japan, Australia, and Brazil.
