CJ Korea Express Corp., South Korea’s largest logistics firm, unveiled an ambitious plan Sunday to become the world’s fifth-largest logistics company by 2020, one day before its scheduled merger with its affiliate and the country’s second-largest logistics company CJ GLS Inc.

Company officials said the merger will be completed Monday with Lee Chae-wook, a former chairman of GE Korea, tapped to lead the new CJ Korea Express.

“Our country is producing many of the world’s No. 1 products in various industries from shipbuilding to semiconductors and automobiles, but its logistics industry is significantly less developed compared to others,” Lee said while meeting with reporters.

“With the merger, we will work to become shoulder to shoulder with global logistics firms.” (

Under the plan unveiled Sunday, the company will invest 5 trillion won ($4.5 billion) by 2020 to become the world’s fifth-largest logistics firm, according to Lee. (Yonhap News)