Tag: Korea

Japan, China, S. Korea postal authorities to seek cooperation

Posted by | Nov 24, 2004 | |

The state-backed Japan Post said Wednesday it has agreed with Chinese and South Korean postal authorities to seek tie-ups in operations such as international remittance and the use of automated teller machines. The agreement was reached as a result of high-level talks of postal officials from the three countries held in Tokyo last Wednesday, Japan Post said. The accord calls for Japan Post, the State Postal Bureau of China and Korea Post to study ways of realizing emergency international remittance, acceptance of international credit cards for use in their ATMs and exchange of information on new postal products and services.

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FedEx to expand Kinko’s in Asia, posts China boom

Posted by | Nov 17, 2004 | |

FedEx Corp. is posting explosive growth in China and now plans to expand its Kinko’s copy-chain across Asia, a senior executive said on Wednesday. FedEx, which vies with Deutsche Post’s DHL Express and United Parcel Service Inc in the global courier arena, is trying to muscle in on an insular sector that it says could one day be the world’s top cargo market. Analysts estimate it could be worth USD1.5 billion annually. FedEx’s delivery volumes in China grew 52 percent in the quarter ended Aug. 31, said David Cunningham, FedEx’s Asia Pacific president. He did not elaborate. The US firm does not divulge sales by country or region. Now FedEx also wants to pump up the number of Kinko’s outlets in Asia to incorporate it into its global courier network and bring in more customers.

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Korea Post Loses 166 Bln Won After Investing in LG Card, SK Global

Posted by | Oct 21, 2004 | |

Korea Post, South Korea’s postal service agency, lost 166.2 billion won (USD145 million) last year after buying stocks in two troubled companies, LG Card Co. and SK Global Co., the Ministry of Information and Communication said Thursday.
Last year, the postal service also reported an investment loss of 22 billion won in managing some derivative products, the ministry said in a report to an annual parliamentary audit. Korea Post, considered the second-largest government investor after the National Pension Corp., reported a loss of 98 billion won after buying shares of LG Card, which narrowly avoided bankruptcy earlier this year only after creditors funded a USD4.5 billion bailout.

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S.Korean Postal Service to raise charges in Nov

Posted by | Oct 1, 2004 | |

South Korea’s national postal service agency said Friday that it will charge its customers an average 11.8 per cent more for domestic mail services from Nov. 1.

Korea Post said the price of an ordinary postage stamp will increase to 220 won (19 cents) from 190 won, and the “fast-delivery” stamp will increase to 310 won from 280 won.

The increase is the first in nearly three years and is aimed at compensating for mounting losses from the mail-delivery service, it said.

The size of the price-hike takes into account the government’s wish to curb inflationary pressure, the agency added.

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Korea Seven-Eleven to offer international delivery service

Posted by | Sep 21, 2004 | |

Korea Seven-Eleven Co. said Tuesday that its convenience stores will offer international express delivery service to customers starting this week.

The company said it will launch the service at its 600 stores in and around the Seoul area on Friday.

The move follows a successful test run at 10 stores in Seoul in conjunction with DHL International Ltd., the U.S.-based global delivery service provider.

The tie-up with DHL will enable the sending of priority international mail and packages, 24 hours a day, at Seven-Eleven stores. The company said customers will be able to send packages for 15 per cent less than usual market prices.

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