Subscribe to Entrepreneur for $5
Subscribe

FedEx's (FDX) Logistics Unit Opens New Office in South Korea

FedEx Logistics, a unit of FedEx (FDX), expands its global presence by opening a new office that seeks to provide one-source, end-to-end logistics sol...

By
This story originally appeared on Zacks

FedEx Corporation’s FDX subsidiary, FedEx Logistics, has opened an office in Seoul, South Korea, expanding its global network.



This new organization will provide one-source, end-to-end logistics solutions, including international air and ocean cargo services, customs brokerage arrangements, and trade solutions, as well as a number of value-added services.



Edward Hui, vice president of FedEx Logistics for Asia Pacific, Middle East, and Africa (AMEA) region, said that with this new office, customers will see an enhancement in service level as well as gain access to FedEx’s global reach, guided by local Korean expertise.

- Zacks


Patrick Moebel, president of FedEx Trade Networks, said, "The new office in Korea complements our global operations, strengthening our position to better serve our customers around the world." Moebel added, “Global customers who trade with Korea and Korean customers alike will benefit from the fully customizable solutions offered by FedEx Logistics.”



FedEx, which has been seeing strong delivery volumes due to a rise in e-commerce demand amid the pandemic, recently entered into a long-term air freight partnership with Atlas Air Worldwide HoldingsAAWW subsidiary, Atlas Air. The deal is aimed at boosting air cargo capacity during the peak shipping seasons.



While FedEx carries a Zacks Rank #4 (Sell), Atlas Air Worldwide sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Picks

Some top-ranked stocks in the broader Transportation sector are Herc Holdings HRI and ArcBest Corporation ARCB, both sporting a Zacks Rank #1.



Shares of Herc Holdings and ArcBest have rallied more than 100% and 85% so far this year, respectively.



5 Stocks Set to Double

Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>



Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 

FedEx Corporation (FDX): Free Stock Analysis Report

 

Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report

 

ArcBest Corporation (ARCB): Free Stock Analysis Report

 

Herc Holdings Inc. (HRI): Free Stock Analysis Report

 

To read this article on Zacks.com click here.

 

Zacks Investment Research