CJ Logistics, a logistics arm of CJ Group, South Korea's 14th-biggest conglomerate, signed a partnership Wednesday with Cainiao, a logistics affiliate of Alibaba Group.
The strategic memorandum of understanding (MOU) was signed between CJ Logistics and Cainiao to build a supply chain management (SCM) line for e-commerce between South Korea and China, the South Korean company said in a statement.
Under the MOU, the CJ Logistics became the official logistics partner of Cainiao in South Korea to provide logistics services for e-commerce products sent from South Korea to China.
The two companies also held the launching ceremony of the Global Fulfillment Center (GFC) of Cainiao as the first step of their partnership.
The GFC is a hi-tech logistics center that integrates work related to direct overseas sales of products on e-commerce, which ranges from storage, inventory management, packaging and waybill invoicing to customs and international air shipment.
The center would handle the products, which are sold to China on e-commerce, for South Korean companies that are registered with Alibaba Group's Chinese retail platforms.
Cainiao had four GFCs across the globe. The CJ Logistics became the fifth official operator of the GFC.
"The opening of the Global Fulfillment Center, which leverages Cainiao's technology, will be a meaningful extension to our global logistics network which will better facilitate cross-border trade for Korean merchants and bring quality goods to Chinese consumers in a timely fashion," said Guan Xiaodong, general manager of Cainiao Global.
