Naver is expanding its logistic network to stay ahead of competitors like Coupang, following the delivery model pioneered by Amazon in the U.S.
CJ CheilJedang’s net profit fell 51.6 percent on year in the first quarter to 218.76 billion won (($195.32 million), mainly due to a one-off item related to a payment in the first quarter of 2020 for a property disposal.
CJ Logistics' net profit jumped more than 60 percent on year in the first quarter, though its operating profit declined almost 20 percent during the same period.
Hanjin Transportation and Lotte Global Logistics raised parcel delivery fees by up to 2,000 won ($1.80) for retail clients last month.
Market Kurly is expanding next morning delivery to areas outside of greater Seoul next month as e-commerce operators in Korea battle intensely on speed and price for market share.
CJ Logistics is using robots to unload parcels at one of its warehouses.
CJ Logistics, the country’s largest logistics firm, is raising prices by double digits in line with moves by its competitors.
As competition grows in e-commerce, the big boys are seeing logistics as a key to success.
CJ CheilJedang’s net profit rose more than 300 percent in 2020 as it sold 1 trillion-won worth of Bibigo dumplings.
The grand bargain that was supposed to right the wrongs in the delivery business and avert a strike is now being questioned by a key constituency.