CJ Logistics

Korea Express

Korea Express was established as Chosun Rice Warehousing in 1930.[1] It became a subsidiary of Dong-ah Group in 1968, but the creditors sold Korea Express when Dong-ah entered a government-sponsored debt workout program in 2003.[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 operated 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]

CJ Logistics

However, Kumho Asiana had to sell Korea Express as it faced a severe cash shortage during the 2008 financial crisis.[5] After competing with the Samsung SDS-POSCO consortium, CJ Group acquired a 40 percent stake in Korea Express for 1.91 trillion won.[6][7] CJ changed the company name to CJ Korea Express and merged with its existing logistics affiliate CJ GLS.[8] In 2017, the company was rebranded as CJ Logistics from CJ Korea Express.[9]