YCH Strengthens Pan Asian Network with Expansion into South Korea
Sep 7, 2009 12:00:00 AM
�YCH is taking the opportunity in the current economic slowdown to continue our aggressive expansion and long term strategic investments across Asia. The offering of Korea-based capabilities will strengthen our service offerings and help propel YCH towards becoming the region�s leading end-to-end SCM solutions provider and our MNC customers� most trusted Pan Asian partner,� said Dr Robert Yap, Chairman & CEO of YCH Group.
�YCH is a pioneer in leveraging on the new opportunities resulting from the recent conclusion of the Asean-Korea Free Trade Agreement. The opening of its Korean office will enable the company to tap growing demand for logistics and supply chain management services driven by the increasing trade between Asean and Korea,� said His Excellency Mr Chua Thai Keong, Singapore�s Ambassador to Korea, who was Guest-of-Honour at the official opening ceremony.
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From L-R: VP, Corporate Development of YCH Group Mr Lun Kai Shen, Chairman & CEO of YCH Group Dr Robert Yap, His Excellency Singapore�s Ambassador to Korea Mr Chua Thai Keong and President of YCH Korea, Mr Stanley Hwang at the Official Opening ceremony of YCH Korea Inc. on 7 September, in Seoul. |
To provide value-add to its customers, YCH Korea will focus on international freight forwarding and contract logistics services, leveraging its strong Asia Pacific network and related experience. The former comprises air and ocean services, especially for electronics and automotive customers, while the latter will provide end-to-end contract logistics to the Hi-tech and healthcare industries using YCH�s proprietary 7PL� model.
The company will support Korean MNCs� regional expansion by enhancing their freight forwarding capability and helping them align with YCH Group�s distribution hubs in emerging countries in Asia Pacific such as China, India and Vietnam. It also plans to strengthen its connection with YCH�s operations in other regional markets by setting up Korea desks in 10 countries by 2011.
�YCH�s strong logistics infrastructure in emerging countries across the region enables us to offer unique and valuable support to Korean MNCs expanding their regional footprints, as we strive aim to be a global SCM partner to them not only in Korea, but also across Asia Pacific,� Mr Stanley Hwang, President of YCH Korea.
Getting off to a strong start, YCH Korea has already won a contract from a tier one vendor for Hyundai and Kia Motors to ensure Just-In�Time (JIT) delivery of raw materials to the production line. Apart from moving materials for a PCB (printed circuit board) manufacturer to its overseas factory in South China, YCH Korea has also helped a semiconductor equipment manufacturer with products that are very sensitive to external shocks, shift its entire factory facility from Korea to Shanghai, China.
The opening of YCH�s Korean office comes on the back the Group�s recent expansion of its senior management team which saw six new senior appointments, to help the company explore new frontiers in the dynamic Asian logistics industry.
About YCH Group
Founded in 1955, YCH Group is the leading integrated end-to-end supply chain management and logistics partner to some of the world�s largest companies, including Dell, Motorola, Canon, ExxonMobil, B Braun, Moet-Hennessy and Friesland Campina. YCH Group�s suite of innovative award-winning end-to-end supply chain management solutions - Intribution�, Intrabution�, Retrogistics�, Y-Merge� and V-Hub� - employ cutting edge web-technologies that are best-in-class across industry clusters from consumer and electronics to chemical and healthcare, to deliver powerful competitive advantages for customers. The Singapore-based company currently operates throughout Asia-Pacific, including Singapore, Malaysia, Thailand, Indonesia, Philippines, Hong Kong, Australia, China, India, Vietnam and Korea.
A strong proponent of innovation, YCH is recognized for its 7PL� approach in seamlessly integrating supply chain strategy with execution to attain success in the SCM industry. YCH attained the highly-regarded Singapore Innovation Class in October 2005 and was conferred the Asian 3PL of the Year award by Supply Chain Asia in 2007 and 2008. The company is also a consecutive winner of the highly-regarded Frost & Sullivan ASEAN 4 Logistics Awards for being Singapore�s Best Domestic LSP and Best IT/Electronics LSP two years in a row. As a forerunner in worldwide supply chain security, YCH is the first recipient of the ISO 28000: 2007 certification for excellent security management in the global SCM industry. Recently, YCH also clinched the prestigious National Infocomm Award 2008 for its RFIDenabled �High Performance Supply Chain Nerve Centre�.
More information on YCH is available on www.ych.com
For media enquiries, please contact:
YCH Corporate Communications
Ms Tien Yushan at Tel: (65) 6417 2773 or Email: corporate@ych.com
