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Tokyo - May 24, 2016 Mitsui O.S.K. Lines, Ltd. (MOL, President & CEO: Junichiro Ikeda), agreed with Pan Continental Shipping Co., Ltd. (PANCON, President: Sangbok Lee) to establish Joint Venture company in Seoul / Korea which will mainly handle ship agency business. MOL is now enhancing linkage of group resources under a common value slogan "One MOL" and this joint venture company is expected to contribute to reinforcement of such a valued customer service in Korea as strategic important market. Further details announcement for business commencement will be made as soon as it is ready for release. Outline of the new Joint Venture Company Name: MOL (Korea) Co., Ltd. Head office: Seoul, Korea Paid-in Capital: KRW 800,000,000. Shareholders: MOL 70%, PANCON 30% Mitsui O.S.K. Lines, Ltd. press release |
