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Biz News Korea(Eng)

Samsung SDS has no plan for sale or merger of its logistics biz

Collected: 2016.07.19

Distributed: 2016.07.20

Source: Go Direct

Samsung SDS Co., a logistics and IT solutions unit of South Korea’s largest conglomerate Samsung Group, formerly announced that it has no plan to sell logistics division and place it under Samsung C&T Corp., the group’s de facto holding company and trade arm.

Samsung SDS on Monday said in a regulatory filing “We have not reviewed, nor plan to consider, either selling our logistics business or merging it with Samsung C&T after spinning it off.” The spinoff option is currently under study by an outside consulting company.

Since it hinted of spinning off logistics division, the market has speculated various scenarios such as the business process outsourcing (BPO) spinning off and going under Samsung C&T; or more extreme plan of selling the IT sector to Samsung Electronics and the rest to Samsung C&T.

From what it has disclosed, Samsung SDS will run IT and logistics divisions as separate entities.

Samsung SDS specializes in IT services and logistics BPO, raising sales of 5.49 trillion won ($4.8 billion) and 2.3 trillion won, respectively, in 2015.

In early June, Samsung C& T and Samsung Electronics in separate disclosure statements denied of any plans to merge businesses of Samsung SDS under their companies.

By Lee Seung-hoon

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