CJ Korea Express, Korea’s largest courier service company, is expanding its presence in China by snapping up Chinese logistics firms one after another.
The company said that it signed an agreement with TCL, China's leading home appliance supplier, to set up a delivery service firm CJ Speedex. TCL is one of major electronics makers in China that produces various types of electronics products such as TV, smartphone and refrigerator. Under the agreement, Both CJ Korea Express and TCL will hold a 50-percent stake each in the company and run it jointly.
“We have gotten on step closer to our goal to become the world’s top 5 logistics company.” Said CJ Korea Express President and CEO Park Geun-tae at the agreement signing ceremony on Monday in Shenzhen, China.
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, CJ will try to expand into the Chinese market by increasing the delivery volume in the electric and electronic business.
