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CJ Korea Express has acquired a logistics center in Indonesia at 28.6 billion won in order to increase its presence in the Southeast Asian market. The newly bought logistics center is located at the Bekasi industrial estate, about one-hour drive from the nation’s capital Jakarta. The center is as big as four soccer stadiums with the floor area of 30,273 square meters.
According to CJ Korea Express, the warehouse is located in the center of the industrial park with more than 3,000 firms including a major auto assembly plant. As it is within two hours’ distance from the international airport and port, the logistics center is ideally located.
Of late, the company is rushing to expand its profile in Southeast Asia. Late last year, it established a joint venture in Myanmar together with the Road Transport Administration Department. In September this year, it became the largest shareholder to Century Logistics, a Malaysian logistics firm, by taking an equity stake at 47.1 billion won.
A CJ Korea Express official said, "In order to jump into the ranks of the world’s top-five logistics players, we will aggressively move to acquire or take equity stakes in local firms."
yykang@hankyung.com
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