Hanjin to open Mexico subsidiary

South Korea's Hanjin Transportation said on Friday it will establish a subsidiary in Mexico this year to expand its logistics market in Latin America.

The Mexico subsidiary will serve as a strategic base for building a North American integrated logistics network and expanding into the South American market.

"We will strengthen our logistics service competitiveness in North America by offering forwarding (freight and transportation arrangements) and US-linked trucking (land transportation) services," a Hanjin source said. 

Meanwhile, President Noh Sam-sug and CEO Cho Hyun-min visited the US on November 3, touring the B2B center in New Jersey and the Chicago center of the Americas subsidiary.

They also visited the Korea Trade-Investment Promotion Agency (KOTRA) Chicago office and the Chicago Consulate to gather information on local logistics market trends.

Write to Hyun-jin Ra at raraland@hankyung.com