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CJ Logistics
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Native name | 씨제이대한통운 주식회사 |
|---|---|
| Formerly | Korea Express CJ Korea Express |
| Type | Subsidiary |
| KRX: 000120 | |
| Industry | Courier |
| Founded | 1930 |
| Headquarters | , South Korea |
Key people | Kang Sin-ho (CEO) |
| Parent | CJ Group |
| Website | www.cjlogistics.com |
CJ Logistics Corporation (Korean: 씨제이대한통운 주식회사; Hanja: CJ大韓通運 株式會社; RR: CJ Daehan Tongun Jusik Hoesa) is a logistics company headquartered in Seoul, South Korea. It is the oldest and largest parcel delivery firm in South Korea.[1]
History
Korea Express
Korea Express was established as Chosun Rice Warehousing in 1930.[1] It became a subsidiary of Dong-ah Group in 1968, but the creditors sold Korea Express when Dong-ah entered a government-sponsored debt workout program in 2003.[2]
In 2008, a consortium led by Kumho Asiana Group was selected as the preferred bidder to buy Korea Express.[3] Kumho Asiana, a South Korean conglomerate that operated Asiana Airlines, acquired Korea Express for 4.1 trillion won (US$ 4.34 billion) to expand its cargo business into the inland transportation business.[4]
CJ Logistics
However, Kumho Asiana had to sell Korea Express as it faced a severe cash shortage during the 2008 financial crisis.[5] After competing with the Samsung SDS-POSCO consortium, CJ Group acquired a 40 percent stake in Korea Express for 1.91 trillion won.[6][7] CJ changed the company name to CJ Korea Express and merged with its existing logistics affiliate CJ GLS.[8] In 2017, the company was rebranded as CJ Logistics from CJ Korea Express.[9]
References
- 1 2 Hong, Sung-yong; Lee, Ha-yeon (November 15, 2021). "CJ Logistics to spend $2.1 bn to expand warehouse by 8 times, add high tech". Maeil Business Newspaper. Archived from the original on September 12, 2022.
- ↑ Lim, Bong-soo (January 4, 2003). "Korea Express Co. on Sale for 700 Billion Won". Korea JoongAng Daily. Archived from the original on September 12, 2022. Retrieved September 12, 2022.
- ↑ Shu-Ching Jean, Chen (January 17, 2008). "Kumho-Asiana Wins Auction For Bust Korea Express". Forbes. Archived from the original on September 12, 2022.
- ↑ "},"date":{"wt":"March 3, 2008"},"title":{"wt":"Kumho-Asiana signs formal deal to acquire Korea Express"},"url":{"wt":"https://www.hani.co.kr/arti/english_edition/e_business/273320.html"},"work":{"wt":"[[Hankyoreh]]"},"location":{"wt":"Seoul"},"access-date":{"wt":""},"archive-date":{"wt":"January 7, 2026"},"archive-url":{"wt":"https://web.archive.org/web/20260107010507/https://www.hani.co.kr/arti/english_edition/e_business/273320.html"},"url-status":{"wt":"live"}},"i":0}}]}' id="mwcg"/>"Kumho-Asiana signs formal deal to acquire Korea Express". Hankyoreh. Seoul. March 3, 2008. Archived from the original on January 7, 2026.
- ↑ Nam, Kwang-sik (July 31, 2008). "(News Focus) Kumho Asiana to sell assets worth 4.57 tln won". Yonhap.
- ↑ Kim, Ji-hyun (June 28, 2011). "CJ picked preferred bidder for Korea Express". Korea Herald. Archived from the original on September 12, 2022.
- ↑ "},"date":{"wt":"November 18, 2011"},"title":{"wt":"CJ to acquire 40 pct stake in Korea Express for $1.7 bln"},"url":{"wt":"https://www.reuters.com/article/idUSL3E7MI01620111118"},"work":{"wt":"Reuters"},"location":{"wt":"Seoul"},"access-date":{"wt":""},"archive-date":{"wt":"September 12, 2022"},"archive-url":{"wt":"https://web.archive.org/web/20220912142438/https://www.reuters.com/article/idUSL3E7MI01620111118"},"url-status":{"wt":"live"}},"i":0}}]}' id="mwjQ"/>"CJ to acquire 40 pct stake in Korea Express for $1.7 bln". Reuters. Seoul. November 18, 2011. Archived from the original on September 12, 2022.
- ↑ "},"date":{"wt":"March 31, 2013"},"title":{"wt":"CJ Korea Express unveils 5 tln won investment plan"},"url":{"wt":"https://en.yna.co.kr/view/AEN20130331001800320"},"work":{"wt":"[[Yonhap News Agency]]"},"location":{"wt":"Seoul"},"access-date":{"wt":""},"archive-date":{"wt":"September 12, 2022"},"archive-url":{"wt":"https://web.archive.org/web/20220912142438/https://en.yna.co.kr/view/AEN20130331001800320"},"url-status":{"wt":"live"}},"i":0}}]}' id="mwlg"/>"CJ Korea Express unveils 5 tln won investment plan". Yonhap News Agency. Seoul. March 31, 2013. Archived from the original on September 12, 2022.
- ↑ Choi, Kyong-ae (October 31, 2019). "CJ Logistics eyes more acquisitions for growth". Yonhap News Agency. Seoul. Archived from the original on September 12, 2022.
External links
- Official website
- Business data for CJ Logistics: