CJ Logistics to invest 2.5 tln won by 2023 to foster high-tech business sector

SEOUL– CJ Logistics Corp., the logistics arm of South Korean conglomerate CJ Group, said Sunday that it will invest 2.5 trillion won (US$2.12 billion) by 2023 in a project to be reborn as an “innovative technology” firm, especially by strengthening platform-related businesses.

The investment is largely aimed at upgrading its e-commerce and delivery operation amid the high popularity of ordering on mobile and online platforms.
CJ Logistics said it will expand its fulfillment infrastructure by eight times by 2023. The plan includes establishing a major e-commerce hub for the greater Seoul area, as well as launching fulfillment facilities for refrigerated, frozen and non-refrigerated products.

The firm seeks to automate its operations with autonomous robots, artificial intelligence solutions and a big data-based forecast system.

It also plans to double the size of its tech research institution and increase the number of specialists.

Launched in 1930, CJ Logistics provides services in land and maritime transportation, harbor unloading, cargo storage, international logistics processing and other services. The company also runs e-commerce and home shopping businesses.

Source: Yonhap News Agency

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