Korea Express says to hand local JV stake to UPS

SEOUL, June 18 (Reuters) - Korea Express Co Ltd (000120.KS), the country's top logistics company, said on Wednesday it had signed a deal to hand its 40 percent stake in a local joint venture to United Parcel Service Inc (UPS.N).

It did not disclose the value of the transaction.

Atlanta-based UPS had owned 60 percent of UPS-Korea Express, launched in 1996.

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)