CJ Logistics, Saigon Co.op form partnership in Vietnam
Hun-Hyoung Ha
Jan 31, 2024 (Gmt+09:00)
South Korea’s CJ Logistics announced on Wednesday that it has formed a strategic partnership with Vietnamese state-owned retail chain giant Saigon Co.op to boost its market share in Southeast Asia.
The two companies plan to jointly manage a new logistics center in the western region of Ho Chi Minh City.
Founded in 1989, Saigon Co.op is operating over 760 stores including department stores, supermarkets, and convenience stores.
Its logistics arm has overseen warehouse operations and transportation. However, with recent expansions in both its physical and e-commerce retail businesses, Saigon Co.op is enhancing its collaboration with CJ Logistics to improve logistics performance.