CJ Korea Express continues expansion drive

CJ Korea Express Corp., South Korea’s biggest courier delivery company, expects operating profit and sales to increase this year as it seeks to expand into warehousing and distribution in China and Southeast Asia.


CJ Korea Express continues expansion drive


CJ Korea Express Corp., South Korea’s biggest courier delivery company, expects operating profit and sales to increase this year as it seeks to expand into warehousing and distribution in China and Southeast Asia.

Operating profit may increase more than 10 per cent this year, Yang Seung Suk, vice chairman of CJ Korea Express, said in an interview with Bloomberg in early-April. Sales are expected to rise to 5.5 trillion won (US$5.03 billion), from 4.56 trillion won in 2014.

CJ Korea Express is actively pursuing overseas expansion through ventures and acquisitions as it aims to become one of the world’s top providers of distribution and warehousing services. Its moves come as global parcel-delivery companies also are growing through acquisitions. “Our priority right now is to focus on expanding into China and Southeast Asia,” Yang said. “CJ Group has identified logistics as the new growth engine, and we plan to become a leading player in the field.”

CJ Korea Express lost to Japan’s Kintetsu World Express Inc. in February in its effort to buy the logistics arm of Neptune Orient Lines Ltd. of Singapore, but the company remains focused on further acquisitions.