CJ Logistics marks 96 years with pledge for profit-driven growth

CJ Logistics CEO Shin Young-soo marked the company’s 96th anniversary by setting a new course for the logistics giant, pledging to convert years of heavy investment into sturdier profits and a higher corporate value.

According to CJ Logistics on Sunday, Shin reviewed the year’s key achievements and laid out the direction for future growth at a ceremony Thursday at its Seoul headquarters.

"Our investments and innovation for future growth must now bear real fruit," Shin said. "Instead of settling for outward growth, we need to improve profitability across the business and raise the quality of our growth."

In Korea, Shin aims to sharpen the company’s edge through its integrated delivery service and make fulfillment and freight transport more profitable, while tapping fresh sources of expansion abroad.

"In global markets, we must deepen connections across our businesses and build up our end-to-end capabilities to secure new growth opportunities," he noted.

CJ Logistics said it aims to rank among the world’s top 10 logistics companies by 2030.

His remarks build on a year in which CJ Logistics widened its reach and modernized its operations.

This year, CJ Logistics opened a logistics center in Elwood, Illinois, grew its network in strategic overseas markets and deployed artificial intelligence-powered humanoid robots at work sites. It also extended its person-to-person delivery service into secondhand-goods shipping and set up parcel drop-off centers at traditional markets.

Shareholders also figure prominently in the plan. CJ Logistics recently moved to hand them treasury shares equal to 5 percent of its total issued stock and may use the rest for strategic investments or further payouts.