Coupang has bigger problems now than just reporting massive losses. A competitor is being formed that could shake up the e-commerce business and threaten its position in the market.
IT company Naver and CJ Group will form a strategic alliance through a stock swap in a bid to expand the two companies' business presence in the e-commerce and entertainment industries.
CJ Logistics said Thursday it signed an agreement with organizations dedicated to sustainability, to collaborate on initiatives to reduce plastic and develop more eco-friendly products.
Hyundai Glovis signed a memorandum of understanding with Bangkok-based CP All, which operates 7-Eleven stores in Thailand.
Hyundai Glovis has partnered with a robotic solutions provider to explore ways to use robots in logistics.
Major logistics companies, including CJ Logistics, Hanjin Transportation and Lotte Global Logistics are giving their delivery workers a day off, meaning they will be free from Friday through Sunday.
Friday has been declared a package-free day by some delivery companies, meaning that some orders placed this week will be delayed until early next week.
Hanjin Transportation will be issuing 100 billion won ($84 million) of new shares, the company's board decided Thursday.
CJ Logistics announced Tuesday it was adding a clause to the standard contract for delivery workers that guarantees more rights over their workloads, the first logistics company to put such practices into writing.
E-commerce company Coupang will invest 100 billion won ($83 million) into its new logistics center in Eumseong, North Chungcheong, to extend its same or next-day delivery service to a broader swath of the country.