CJ Logistics

South Korean logistics company

CJ Logistics Corporation

Native name

| 씨제이대한통운 주식회사

|

Formerly| Korea Express
CJ Korea Express
Company type| Subsidiary

Traded as

| KRX: 000120
Industry| Courier
Founded| 1930; 94 years ago (1930)
Headquarters|

Seoul

South Korea

Key people

| Kang Sin-ho (CEO)
Parent| CJ Group
Website| www.cjlogistics.com
CJ Logistics truck

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

[edit]

### Korea Express

[edit]

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 operates 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

[edit]

However, Kumho Asiana had to sell Korea Express as it faced a severe cash shortage during the financial crisis in 2008.[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

[edit]

1. ^ a b 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.
2. ^ Lim, Bong-soo (January 4, 2003). "Korea Express Co. on Sale for 700 Billion Won". Korea JoongAng Daily.
3. ^ Shu-Ching Jean, Chen (January 17, 2008). "Kumho-Asiana Wins Auction For Bust Korea Express". Forbes.
4. ^ "Kumho-Asiana signs formal deal to acquire Korea Express". Hankyoreh. Seoul. March 3, 2008.
5. ^ Nam, Kwang-sik (July 31, 2008). "(News Focus) Kumho Asiana to sell assets worth 4.57 tln won". Yonhap.
6. ^ Kim, Ji-hyun (June 28, 2011). "CJ picked preferred bidder for Korea Express". Korea Herald.
7. ^ "CJ to acquire 40 pct stake in Korea Express for $1.7 bln". Reuters. Seoul. November 18, 2011.
8. ^ "CJ Korea Express unveils 5 tln won investment plan". Yonhap News Agency. Seoul. March 31, 2013.
9. ^ Choi, Kyong-ae (October 31, 2019). "CJ Logistics eyes more acquisitions for growth". Yonhap News Agency. Seoul.

## External links

[edit]

* Companies portal
* South Korea portal

* Official website
* Business data for CJ Logistics:

* Bloomberg
* Google
* Reuters
* Yahoo!

* v
* t
* e

CJ Group

Subsidiaries|

| Current|

* CJ CheilJedang
* Schwan's
* CJ CGV
* Mars Entertainment Group
* 4DX
* motion-enhanced films
* ScreenX
* formatted films
* CJ Foodville
* Tous les Jours
* VIPS
* CJ Logistics
* CJ ENM
* Commerce Division
* Entertainment Division
* AStory (13.50%)
* Chunghwa TV
* CJ Entertainment
* Fifth Season (55%)
* JS Pictures
* Mnet
* OCN
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* Studio Dragon
* Culture Depot
* Hwa&Dam Pictures
* Mega Monster (5.86%)
* Tooniverse
* tvN
* tvN Show
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* WakeOne
* Olive Young

|

Former/defunct|

* A Twosome Place
* N Seoul Tower
* Stone Music Entertainment

People|

* Lee Byung-chul (founder)
* Lee Jay-hyun (chairman)
* Miky Lee

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