CJ Logistics

CJ Logistics Corporation (Korean: 씨제이대한통운 주식회사; Hanja: CJ大韓通運 株式會社; RR: CJ Daehan Tongun Jusik Hoesa) is a logistics company headquartered in Seoul, South Korea.

[2] In 2008, a consortium led by Kumho Asiana Group was selected as the preferred bidder to buy Korea Express.

[3] Kumho Asiana, a South Korean conglomerate that operates Asiana Airlines, acquired Korea Express for 4.1 trillion won (US$ 4.34 billion) to expand its cargo business into the inland transportation business.

[4] However, Kumho Asiana had to sell Korea Express as it faced a severe cash shortage during the financial crisis in 2008.

[5] After competing with the Samsung SDS-POSCO consortium, CJ Group acquired a 40 percent stake in Korea Express for 1.91 trillion won.