Invest KOREA

According to Pulse by Maeil Business News Korea,

South Korea’s largest courier service company CJ Korea Express Corp. joined hands with Chinese electronics giant TCL Corp. to tap the world’s largest consumer market. 

CJ Korea Express Tuesday said it signed an agreement with TCL to set up a delivery service firm CJ Speedex. TCL is one of major electronics makers of China that manufactures various electronics products ranging from TV and refrigerator to smartphone. It posted 19 trillion won ($17 billion) in revenue last year and 47 percent of its sales came from overseas.

“CJ Korea Express now is one step closer to its goal of becoming the world’s top 5 logistics company by 2020,” said CJ Korea Express President and CEO Park Geun-tae at the agreement signing ceremony on Monday in Shenzhen, China, that was also attended by TCL Chairman and CEO Tomson Li Dongsheng.

The Korean courier company hopes the joint venture CJ Speedex to help it expand its presence in the vast consumer electronics and electric parts delivery market. Also, it expects the joint venture to produce synergy effect with its other delivery service subsidiary and partners in China including CJ Rokin, a courier service that specializes in shipping food, cosmetics, and chemical products, and CJ SmartCargo that provides international delivery service of construction and plant equipments.

By Cho Sung-ho

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Aug. 3, 2016)