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CJ Logistics scales up efforts to expand presence in India

Collected: 2017.12.03

Distributed: 2017.12.04

Source: Go Direct

South Korea’s largest parcel delivery service company CJ Logistics Corp. plans to scale and speed up its efforts to make inroads into the Indian market through its subsidiary CJ Darcl., which is 50 percent owned by the Korean courier.

According to CJ Logistics on Sunday, CJ Darcl CEO Puneet Agarwal pledged to double its sales to 700 billion won ($644 million) by 2021 to be the largest logistics business in India at Korea-India Business Partnership Forum 2017 held on Friday at New Delhi, India.

CJ Darcl will become a global logistics firm by utilizing its 210 branches located across India and CJ Logistics’ networks that spread out to 31 countries around the world, he explained.

The company plans to combine its capabilities with high technology and business know-how of CJ Logistics to ramp up its business in the whole industry.

Established in 1986, CJ Darcl (then Darcl Logistics Ltd.) is India’s leading transport company that provides freight services specialized in delivering industrial materials like steel on top of consumer goods through its land and sea transport networks that stretch out to adjacent countries. The company employing about 3,400 posted 320 billion won in revenue last year.

CJ Logistics acquired a 50 percent stake in the Indian logistics and transport company at $50.6 million in April to be its largest shareholder.

By Moon Ji-woong and Lee Ha-yeon

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