On Monday, South Korean telecom company KT Corp. announced that it had reached an agreement with Singaporean postal service firm SingPost to collaborate on a new digital logistics business venture.
The memorandum of understanding states that KT and SingPost will trial an AI-based transportation optimization program in seven districts of Singapore, using KT’s delivery platform LISFO. This program will be used to calculate the most efficient travel routes and offloading information from the start of the planning process, with the help of KT’s AI-based prediction solutions.
KT stated that LISFO is likely to reduce SingPost’s total mileage by 27% and the number of vehicles by 15%. SingPost, which provides both domestic and international postal and logistics services, is aiming to strengthen its e-commerce logistics capabilities and believes that the partnership with KT will help it to digitally transform the logistics industry.
Choi Kang-rim (L), head of AI mobility business in KT Corp., and Eric Yeo, head of SingPost business technology solutions and property, met in Seoul on Sept. 7, 2023, to celebrate their partnership with a signing ceremony. (Yonhap)
brk@yna.co.kr
(END)