CJ Logistics Corp. said Sunday it has signed a partnership deal with FESCO, a Russian transportation and logistics firm.
The preliminary deal is expected to allow the logistics arm of South Korea's food and entertainment conglomerate CJ Group to do business using Russia's Trans-Siberian Railway, which will reduce costs for trade with Europe.
Under the deal, CJ Logistics and FESCO will also jointly launch logistics businesses on the Trans-Siberian, the South Korean company said in a statement.
Park Keun-tae, chief executive of CJ Logistics, said the company aims to provide a variety of logistics services by developing trade routes that link Asia to Europe. SEOUL, March 18 (Yonhap)