CJ Logistics Corp., South Korea’s biggest logistics company, said Wednesday it has partnered with Affinity Equity Partners for more deals in third party logistics (3PL) markets.

CJ Logistics and Affinity, one of the largest Asian private equity firms, signed a memorandum of understanding for a “strategic” partnership in the 3PL markets, CJ said in a statement.

3PL refers to the outsourcing of logistics and transportation functions to an external service provider.

Under the partnership, CJ Logistics will be able to provide logistics consulting services to companies in which Affinity invested, while expecting logistics deals from the companies, the statement said.

Source: Yonhap News Agency