FedEx expands Korean operations amid rising demand in healthcare sector

Policy

Sriram Krishnasamy Executive Vice President and Chief Transformation Officer, FedEx Corporation President and CEO, FedEx Dataworks | FedEx

By Sky Industry News

Nov 11, 2024

Federal Express Corporation (FedEx) has expanded its Korea Life Science Center in Gimpo, Gyeonggi-do. This expansion is intended to meet the growing demand for specialized healthcare transportation solutions. FedEx aims to provide reliable global delivery and advanced capabilities for the life science industry.

The new facility covers 2,288 square meters, nearly tripling the size of the previous one. It includes five temperature-controlled areas ranging from -150°C to +25°C, monitored continuously to comply with pharmaceutical cold chain requirements. The center is also Korea Good Supply Practice (KGSP)-certified, meeting quality and regulatory standards specific to the healthcare sector. With enhanced inventory management capabilities, it supports both domestic and international transportation needs.

This expansion enhances FedEx's logistics expertise in life sciences, ensuring seamless transportation of critical healthcare shipments such as investigational medicinal products (IMP), biological samples, and biopharmaceutical product lines. The facility aids pharmaceutical and clinical trials customers in prioritizing patient care.

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FedEx offers specialized services built around its international express transportation networks and customized time-critical capabilities. The Korean center is part of a global network that includes facilities in Memphis, Mumbai, Singapore, Tokyo, and Veldhoven. Additionally, FedEx operates over 130 cold-chain facilities worldwide to maintain temperature integrity for shipments.

"FedEx is dedicated to supporting the healthcare community," said Wonbin Park, managing director of FedEx Korea. "Our expanded Life Science Center in Korea is a testament to our commitment to this vital industry." He noted South Korea's position as an important hub for clinical trials with an estimated market growth rate of 4.3% from 2023 to 2028.

FedEx Clinical Care provides end-to-end delivery for time-sensitive healthcare shipments within 24 to 48 hours using features like temperature-controlled packaging and real-time tracking.

Recently recognized for innovation in clinical supply chain logistics at the Korea Biopharma Excellence Awards 2024, FedEx introduced FedEx Surround®, a solution offering enhanced control and visibility for critical shipments.

For more information on FedEx healthcare solutions, visit their website.