Global logistics software group, WiseTech Global, acquires South Korean customs solutions provider, Ready Korea
Global logistics solutions group, WiseTech Global, today announced the acquisition of Ready Korea, a leading customs, bonded warehouse and trade compliance solutions provider in South Korea.
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. Customers of Ready Korea include FedEx, Bayer Korea, Korea 3M Corporation, Samsung, Siemens, Johnson & Johnson, and many other organisations.
WiseTech Global Founder and CEO, Richard White, said “As the 8th largest export market and 10th largest import market1 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.”
WiseTech Global Head of Corporate Development, Vlad Bilanovsky, said “Ready Korea is a leading customs and trade compliance provider in South Korea and an official partner of the Korean Customs Brokers Association. Together we will create cross-border logistics management benefits for companies trading with South Korea and improve productivity potential for co-ordinating trade flows in this region.”
Ready Korea Managing Director, Tom Kim, 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.
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.
This transaction follows WiseTech’s other recent logistics solutions acquisitions in Argentina, Australasia, Belgium, Brazil, Canada, France, Germany, Ireland, Italy, the Netherlands, North America, Norway, Spain, Sweden, Taiwan, Turkey, the UK and Uruguay, and is in line with WiseTech Global’s clearly stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions.
About WiseTech Global
WiseTech Global is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 12,000 of the world’s logistics companies across 150+ countries, including 43 of the top 50 global third-party logistics providers and 25 of the 25 largest global freight forwarders worldwide2. Our flagship platform, CargoWise One, forms an integral link in the global supply chain and executes over 50 billion data transactions annually. At WiseTech, we are relentless about innovation, adding ~3,500 product enhancements to our global platform in the past five years while bringing meaningful continual improvement to the world’s supply chains. Our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and truly global reach.
The WiseTech Global group includes CargoWise One, ABM Data Systems, ACO Informatica, BorderWise, Bysoft, Cargoguide, CargoIT, CargoSphere, CMS Transport Systems, Containerchain, CustomsMatters, DataFreight, Depot Systems, EasyLog, Fenix, Forward, Intris, LSP Solutions, Microlistics, Multi Consult, Pierbridge, Prolink, SaaS Transportation, SmartFreight, Softcargo, Softship, Systema, Taric, Trinium Technologies, Ulukom, Xware, zsoft and znet Group.
For more information about WiseTech Global or CargoWise One, please visit www.wisetechglobal.com
About Ready Korea
Founded in 1989, Ready Korea is a leading customs, bonded warehouse management and trade compliance solutions provider in South Korea, with customers including FedEx, Bayer Korea, Korea 3M Corporation, Samsung, Siemens, Johnson & Johnson, and many other organisations. Headquartered in Seoul, Ready Korea has a team of over 60 people, providing customs, trade and technical expertise along with software development capabilities. Ready Korea is an official partner of the Korean Customs Brokers Association.
For more information on Ready Korea visit www.readykorea.co.kr
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1Source: World Bank 27 Sept 2019
2Armstrong & Associates: Top 50 Global Third Party Logistics Providers List, ranked by 2017 logistics gross revenue/turnover. Armstrong & Associates: Top 25 Global Freight Forwarders List, ranked by 2017 logistics gross revenue/turnover and freight forwarding volumes.