Doosan Corporation wants to become a leader in logistics

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Doosan Corporation wants to become a leader in logistics


Dong Hyun-soo, vice chairman of Doosan Corporation, seventh from left, Kwak Sang-chul, CEO of Doosan Corporation Industrial Vehicle, eighth from left, and Kim Hwan-sung, head of Doosan Logistics Solutions, sixth from left, pose at a proclamation ceremony held in Incheon, on Wednesday. [DOOSAN CORPORATION]

Doosan Corporation is seeking to diversify.

Korea’s largest maker of forklifts wants to become a leader in logistics.

At an event in Incheon Wednesday, it said its plan is to double revenue by 2025 to 2 trillion won ($1.7 billion) by getting into new businesses and products, and by finding new customers.

It is also restructuring its operations, transferring its forklift business into newly formed services subsidiaries as it works toward “downstream service.”

One is Doosan Logipia, a subsidiary set up in 2018. It is responsible for supplying components for forklifts, renting and refurbishing forklifts, and selling used forklifts.

The other is Doosan Logistics Solutions, launched in May. It offers automation equipment required for the entire logistics process and automation software.

“Based on the innovative business model that combines forklift production, downstream service and logistics automation solutions, we aim to grow into a comprehensive logistics service provider in the global arena,” said Dong Hyun-soo, vice chairman of Doosan Corporation.

At the Wednesday event in Incheon, some 100 Doosan executives and customers gathered to see the company release the plan. Doosan displayed on site its entire line of 18 forklifts and other machines, including pallet trucks, reach trucks and stackers.

Customers were given an opportunity to see how they work and test some of them.

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