CJ Logistics' Chinese Affiliate Snaps Up Wuhan Firm for 20 Billion Won | Be Korea-savvy

CJ Logistics’ Chinese Affiliate Snaps Up Wuhan Firm for 20 Billion Won


CJ Logistics Corp., the logistics arm of South Korea's food and entertainment giant CJ, said Thursday its affiliate purchased a Chinese company for 20 billion won (US$18 million) as part of its efforts to boost its competitiveness in the neighboring market. (Image: Yonhap)

CJ Logistics Corp., the logistics arm of South Korea’s food and entertainment giant CJ, said Thursday its affiliate purchased a Chinese company for 20 billion won (US$18 million) as part of its efforts to boost its competitiveness in the neighboring market. (Image: CJ Logistics Website)

SEOUL, Nov. 16 (Korea Bizwire)CJ Logistics Corp., the logistics arm of South Korea’s food and entertainment giant CJ, said Thursday its affiliate purchased a Chinese company for 20 billion won (US$18 million) as part of its efforts to boost its competitiveness in the neighboring market.

CJ Logistics said its Chinese affiliate CJ Rokin purchased Wuhan North Transport International Logistics Co., a local warehouse operator in the city of Wuhan, central China, to secure a logistics hub in the region.

The company has been expanding its overseas businesses, purchasing Vietnam’s leading logistics firm, Genadept Corp., for 100 billion won last month.

 

(Yonhap)

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