The Korea Times
CJ Logistics is tightening its hold on Vietnam’s fast-growing logistics sector, taking full control of a key joint venture as it pivots away from shipping toward higher-margin contract logistics. The company said Wednesday that it would acquire the remaining stake in its Vietnam-based affiliate, CJ Gemadept Logistics Holding, as part of a broader restructuring agreement with its longtime partner, Gemadept. The deal will give CJ Logistics 100 percent ownership of the unit, while transferring its stake in a separate shipping business back to Gemadept, effectively splitting the two operations and allowing each company to focus on its core strengths. CJ Logistics and Gemadept had jointly operated two entities since 2018: CJ Gemadept Logistics Holding, which oversees logistics operations, and CJ Gemadept Shipping Holding, which handles maritime transport. Before the restructuring, CJ Logistics held 50.9 percent of the logistics unit and 49 percent of the shipping unit. The agreement calls for a stake swap, with CJ Logistics taking the remaining 49.1 percent of the logistics unit and ceding
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