Dongwon Group has recently announced its plans to launch a new corporation named "NEXT Lo" on May 1st in order to strengthen its competitiveness in the auto parts logistics business.
NEXT Lo is going to be an affiliate of Dongwon Loex, which is in charge of Dongwon Group's logistics business, and it will specialize in parts logistics. NEXT Lo aims to become the leading auto parts logistics company in Korea by expanding its infrastructure and establishing an eco-friendly logistics system.
The name "NEXT Lo" is a combination of Next and Logistics, and it has a vision to be reborn as a component logistics company that provides sustainable next-generation logistics services.
Lee Dong-ho, who is the managing director of Dongwon Loex Parts Logistics (PL), has been appointed as the CEO of NEXT Lo.
"We will strengthen their expertise in the existing auto parts logistics business and increase management efficiency to strategically respond to the rapidly changing logistics industry environment," said CEO Lee.
NEXT Lo has signed a win-win agreement with Hyundai Mobis on April 21 at Hyundai Mobis' headquarters in Gangnam-gu, Seoul, for shared growth in the auto parts logistics sector. This agreement aims to solidify a stable cooperative relationship with Hyundai Mobis while securing domestic and foreign auto parts companies as customers and expanding its business area to various industries.
Meanwhile, Dongwon Group established Dongwon Loex, a comprehensive logistics company, in 2019 by combining Dongbu Express, which was acquired in 2017, and LOEX, the existing logistics division of Dongwon Industrial. The company provides logistics services in various areas, ranging from cargo transportation, port loading, storage, international logistics, and distribution logistics. Dongwon Loex has grown into a core business of Dongwon Group, with sales exceeding 1 trillion won last year.
