FedEx (Federal Express Corporation) announced on the 14th that it has signed a memorandum of understanding (MOU) with CJ Olive Young regarding express and local logistics services in the United States.

SCM Center Head Jeong-ju Seo of CJ Olive Young (left) and Global Sales Senior Vice President Jill Brennan of FedEx Corporation (right) pose for a commemorative photo after signing a Memorandum of Understanding (MOU). /Courtesy of FedEx

With this agreement, FedEx plans to provide its logistics network to effectively respond to the order volume of Olive Young's e-commerce and support its expansion into global markets.

CJ Olive Young expects that it will establish a foundation for providing faster and more reliable shipping services to consumers in the U.S. using the global mall.

This agreement focuses on leveraging FedEx's robust ground transportation network in the U.S. and its integrated e-commerce solutions to enhance the customer experience and satisfaction of Olive Young's global customers.

This solution includes real-time delivery tracking, customized delivery options, and Picture Proof of Delivery, all available through the FedEx DILLI Manager.

Last year, Korea's cosmetics exports to the U.S. amounted to $1.71 billion (approximately 2.5 trillion won), surpassing France, which is centered on luxury beauty brands, for the first time at $1.26 billion.

CJ Olive Young appears to have entered into the agreement with FedEx to secure a logistics partner for the stable expansion of K-beauty brands overseas, as global demand for Korean cosmetics continues to grow.

Jill Brannon, FedEx's global vice president of sales, noted, "We are very pleased to support Olive Young’s expansion into the U.S. market, and I am confident that through our global network and differentiated solutions, we will help customers streamline their supply chains and make their experience with FedEx exceptional."

Park Won-bin, head of FedEx Korea, stated, "I believe it is very significant to strengthen our collaboration with Olive Young, a representative K-beauty corporation in Korea, through this agreement. We plan to actively support the growth of more K-brands seeking to enter the global market in the future."

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