FedEx Expands Life Science Center Operations in Korea to Support Growing Demand from Healthcare Sector

Seoul, South Korea, November 12, 2024 - Federal Express Corporation (FedEx), one of the world's largest express transportation companies, has expanded its state-of-the-art Korea Life Science Center in Gimpo, Gyeonggi-do. This strategic enhancement is designed to meet increasing demand for specialized healthcare transportation solutions, reinforcing FedEx commitment to providing reliable global delivery, advanced capabilities and smart digital solutions for the life science industry.

The new FedEx Korea Life Science Center spans 2,288 square meters - almost triple the size of the previous facility. The new operation includes five temperature-controlled areas for temperatures ranging from -150°C to +25°C, which are monitored 24/7 to ensure continuous compliance with pharmaceutical cold chain requirements. The new facility is also Korea Good Supply Practice (KGSP)-certified, in accordance with market-specific quality and regulatory requirements for the healthcare industry. Along with temperature-controlled Inventory management capabilities, the Korea Life Science Center is equipped to support both domestic and international transportation needs.

By expanding its capacity, FedEx is strengthening its life sciences logistics expertise, ensuring seamless and reliable transportation of critical healthcare shipments including investigational medicinal products (IMP), biological samples, and biopharmaceutical product lines while enabling pharmaceutical and clinical trials customers to prioritize patient care.

Customers in the healthcare and pharmaceutical sector require carefully coordinated, temperature-controlled services to ensure uncompromised efficacy for their products. With decades of experience, FedEx provides specialized healthcare and clinical trials solutions built around a powerful combination of international Express transportation networks, customized Special Services (SpS) Time Critical capabilities, and our global network of Life Science Center operations. The Life Science Center in Korea is part of the FedEx network of Life Science Centers in key locations around the world, including facilities in Memphis (United States), Mumbai (India), Singapore, Tokyo (Japan) and Veldhoven (the Netherlands). Additionally, the FedEx global healthcare infrastructure includes more than 130 cold-chain facilities worldwide to ensure continuous temperature integrity for shipments moving through our domestic and international networks.

"FedEx is dedicated to supporting the healthcare community, and our expanded Life Science Center in Korea is a testament to our commitment to this vital industry," said Wonbin Park, managing director of FedEx Korea. "As one of the important hubs for the global clinical trials industry, South Korea's healthcare cold chain logistics market is estimated to grow at a CAGR of 4.3% from 2023 to 2028[1]. With growing demand for innovative healthcare and pharmaceutical products, we are proud to provide our customers with world-class transportation solutions to ensure integrity of their products in distribution to both domestic and international markets. This strategic expansion will also help strengthen Korea's position as a key player in the global healthcare ecosystem."

FedEx Clinical Care, part of our portfolio of dedicated healthcare transportation solutions, provides end-to-end delivery capabilities for time and temperature-sensitive healthcare shipments. This service ensures expedited delivery within 24 to 48 hours, leveraging specialized features including temperature-controlled packaging, priority handling and clearance, and 24/7 monitoring and intervention using sensor based real-time tracking.

Recently, FedEx was recognized for 'Innovation in Clinical Supply Chain Logistics'at the Korea Biopharma Excellence Awards 2024 for exceptional contribution to clinical supply chains in Korea. In August, the company introduced FedEx Surround®,an innovative monitoring and intervention solution for enhanced control and visibility for healthcare and other critical shipments.

For more information on FedEx healthcare solutions, please visit https://fedexbusinessinsights.com/healthcare/

[1] South Korea Healthcare Cold Chain Logistics Market Share, Size, Growth, Opportunity and Forecast 2024-2032 (imarcgroup.com)