Ship60 & Boxful Partner to Expand Fulfillment Network in Asia

After a period of researching products and services, in November, Ship60 officially signed a memorandum of understanding for strategic cooperation with Boxful, a technology company in the logistics sector that currently provides fulfillment services and personal storage in Korea, Taiwan, and Hong Kong. The event was attended by Mr. Kim Jun-young, CEO of Boxful, Mr. Phung Khac Huy, CEO of SHIP60, and Ms. Chi Han, representing the Vietnam Silicon Valley Capital investment fund.

Through this cooperation agreement, Ship60 and Boxful aim to comprehensively expand cooperation to provide Korean e-commerce sellers who want to supply products in the Vietnamese market and vice versa, creating a bridge for trade between sellers in Vietnam to the markets of Korea, Taiwan, and Hong Kong. At the same time, the two parties will jointly develop and operate a technology platform system for order management and goods management in Vietnam.

In addition, for domestic e-commerce sellers in each country who need to expand abroad, logistics operations will become easier through the connection between Boxful and SHIP60. Both parties expect to provide services to a growing number of cross-border e-commerce sellers. Ship60 and Boxful plan to continue researching and developing services according to a plan that is in line with the constantly changing trends of e-commerce and logistics, and the potential strengths of each party.

Regarding this business agreement, Mr. Kim Jun-young said: “The cooperation with SHIP60, a company that meets local needs in Vietnam, is very important, and we hope that it will expand international sales channels not only for domestic e-commerce sellers but also for foreign sellers,” and added, “In the future, Boxful and SHIP60 will cooperate closely to develop logistics software and take responsibility for transporting goods for sellers using a single software,” he said.

In recent years, the trade turnover between Vietnam and Korea has grown continuously. In 2022, the two-way trade turnover between the two countries reached 83.8 billion USD, an increase of 17.5% compared to 2021. At the same time, the two countries have also established cooperative relations as a “Comprehensive Strategic Partnership” and Korea is currently the 4th largest export market (17.5 billion USD) and the 2nd largest import market for goods into Vietnam (74.2 billion USD). Vietnam and Korea currently have very close trade relations. The two countries signed the Vietnam-Korea Free Trade Agreement (VKFTA) in 2015, creating favorable conditions for goods of the two countries to enjoy preferential tax rates when exported to each other’s markets. These favorable conditions create bridges and a huge demand for trade in goods between domestic sellers in Vietnam and Korea, which is also the goal that both Ship60 and Boxful are aiming for.

Mr. Phung Khac Huy said: “It can be said that the cooperation with Boxful, a large technology company providing logistics services in Korea, is very important in the goal of providing services to Ship60’s global sellers. Through this cooperation, Ship60 can simultaneously expand logistics services for sellers in the Top 5 markets with the largest import volume to Vietnam, including Korea, Taiwan, and Hong Kong. With the tradition of long-term cooperation between the two countries and the similarity in consumer behavior of the two markets, we can take advantage of Boxful’s technological strength to jointly develop a logistics management platform for global sellers, benefiting both parties.”

Some photos at the signing ceremony