CJ Logistics, KOBC in US$462mil investment deal

CJ Logistics plans to sign an investment commitment agreement with the KOBC in the third quarter to commence construction early next year and open the new centres in order from 2026 to 2027. — Bloomberg

SEOUL: CJ Logistics Corp, a major South Korean logistics company will invest 600 billion won (US$461.7mil or RM2.15bil), along with the Korea Ocean Business Corp (KOBC), to build three new logistics centres in the United States by 2027.

CJ Logistics and the KOBC had signed a memorandum of agreement for what they call the “North America project” at the logistics company’s US branch office in Illinois last week.