Kurly Nextmile promises faster, more efficient services
Kurly revamped its logistics subsidiary Fresh Solution, changing its name and promising faster and more efficient services.
The company announced Monday that its logistics business, a wholly owned subsidiary known as Fresh Solution, has been renamed Kurly Nextmile.
Kurly Nextmile is in charge of Market Kurly’s dawn deliveries in greater Seoul, Busan and Ulsan. It currently carries out dawn delivery orders for 40 companies, which the company plans to increase more than 200 percent before the year's end. Dawn delivery orders are guaranteed to arrive by 7 a.m. if made before late at night the previous day.
The logistics company says it has Korea’s biggest cold-chain logistics facilities — trucks that allow refrigerated deliveries and temperature-controlled transfer centers — which will enhance its competitiveness.
Other investments will go toward enhancing the quality of its services.
Kurly announced the same day that it signed a memorandum of understanding with the city of Changwon, South Gyeongsang, on April 13. It will invest 63 billion won ($51 million) to build an eight-story logistics center in the Busan-Jinhae Free Economic Zone, an area that spans over Busan and Jinhae District in Changwon.
It is Kurly’s first logistics center outside of the greater Seoul area, which will allow for faster dawn deliveries in Busan.
Deliveries took longer in the southern city because orders had to first be transported from logistics centers in greater Seoul to smaller transfer centers in Busan since Kurly doesn't have a logistics center in the city. Busan customers have to place orders by 6 p.m. in order to receive it by 7 a.m. the next day, earlier than the 11 p.m. deadline for orders placed in greater Seoul.
Once the construction of the logistics center is completed, scheduled to be finished by December 2023, customers in Busan will be able to place orders later in the evening.
Business is growing, and the company said it will go through massive hires.
“Nextmile is a company with Korea’s biggest cold-chain delivery system and efficient business operating capabilities,” said Song Seung-hwan, CEO of Kurly Nextmile. “As a leading player in the market, we will expand our business using our high-tech infrastructure.”
Kurly is currently preparing to list on the Kospi market and submitted an application for a preliminary assessment in March. Its net loss grew 478 percent on year to 1.3 trillion won. Revenue rose 64 percent on year to 1.56 trillion won.
BY LEE TAE-HEE [firstname.lastname@example.org]