WiseTech Global acquires customs solutions provider Ready Korea
Dec 11, 2019: Global logistics solutions group WiseTech Global has acquired South Korean customs solutions provider, Ready Korea.
Richard White, founder and CEO, WiseTech Global said, “As the 8th largest export market and 10th largest import market (World Bank 27 Sept 2019) in the world, South Korea plays a key role in Asia’s, and the world’s, supply chains. Bringing Ready Korea’s regional customs and trade management expertise into the group now expands our innovation and development capabilities in this important region as we continue to build-out our global customs footprint. This is a further step in strengthening our international reach deeper across Asia and together we will develop even more productive and valuable cross- border logistics solutions for our regional and global customers.”
Headquartered in Seoul, Ready Korea offers a cross-border compliance solution, which facilitates the lodgement of electronic transactions to the Korean Customs Service, including customs brokerage and refunds and Free Trade Agreement verifications, along with bonded warehouse management. Ready Korea also provides a trade administration solution to facilitate the generation and submission of electronic import/export documentation.
Tom Kim, managing director, Ready Korea said, “We are happy to become part of the WiseTech Global group which is well known around the world for its high growth, large global presence, powerful logistics solutions and development capabilities. We will work well together to improve logistics and we welcome this opportunity for our people, South Korea and our customers.”
Remaining under the leadership of Tom Kim, Ready Korea’s operations will be integrated within the WiseTech Global group and Ready Korea will continue to deliver its customs and trade management solutions directly to its own customers, along with CargoWise One over time.
Customers of Ready Korea include FedEx, Bayer Korea, Korea 3M Corporation, Samsung, Siemens, Johnson & Johnson, and many other organisations.
CargoWise One global platform enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, tracking, land transport, ecommerce, and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.