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)
