CJ Logistics
South Korean logistics company
From Wikipedia, the free encyclopedia
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]
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Native name | 씨제이대한통운 주식회사 |
|---|---|
| Formerly | Korea Express CJ Korea Express |
| Company type | Subsidiary |
| KRX: 000120 | |
| Industry | Courier |
| Founded | 1930 |
| Headquarters | , South Korea |
Key people | Kang Sin-ho (CEO) |
| Parent | CJ Group |
| Website | www.cjlogistics.com |
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]
