Apple Intelligence Cleared for China as Alibaba and Baidu AI Power iPhone Features 
PayPal Rejects $53 Billion Stripe-Advent Takeover Offer as Too Low: Report 
Moonshot Launches Kimi K3, China's Largest Open-Source AI Model 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Trump Criticizes ABC, NBC and CNN for Limiting Coverage of Election Speech 
DeepSeek Eyes $74 Billion Valuation Ahead of Planned China IPO 
SpaceX Aborts Starship Test Flight as Engine Issue Delays Launch 
Airbus Signs Cloud Deal With Scaleway to Power Secure AI and Defense Applications 
GameStop Raises eBay Stake to 9.8% as Ryan Cohen Pushes $56 Billion Takeover Bid 
Netflix Stock Drops After Weak Q3 Outlook Overshadows Mixed Q2 Earnings 
Eli Lilly Eyes AtaiBeckley Acquisition to Expand Psychedelic Mental Health Pipeline 
Sam Altman Admits OpenAI Missteps, Promises Major AI Comeback Focused on User Freedom 
Volkswagen Launches €28,000 ID. Cross EV as Europe’s Electric Vehicle Demand Accelerates 
Seven & i Eyes Żabka Stake in Major European Expansion Push 
SpaceX Stock Falls Below IPO Price as Investors Weigh Losses and Lockup Expiry 
xAI Sues Man for Allegedly Using Grok to Generate AI Child Abuse Deepfakes 
Uber to Acquire Delivery Hero in $14.8 Billion Deal to Expand Global Food Delivery Business 
CJ Logistics Corporation announced it had signed a memorandum of understanding (MOU) with Vietnam’s Saigon Co.op, a state-owned distribution company. The South Korean firm said its partnership with the Vietnamese retail giant aims to strengthen its logistics business in the country.
CJ Logistics unveiled its deal with Saigon Co.op on Wednesday, Jan. 31. The company expects this cooperation to help increase its market share in the Southeast Asian region.
Joint Business Plans
As per The Korea Economic Daily, the partners plan to work together on managing a new logistics hub currently being built in the western part of Ho Chi Minh City. They will jointly run the center where CJ Logistics will apply its advanced technology and operational expertise to offer improved logistics services. The company will also share this know-how with state-run companies in Vietnam.
The collaboration will allow Saigon Co.op to enhance its logistics performance, including warehouse operations and transportation. Established in 1989, this Vietnamese firm operates more than 760 convenience stores, department stores, and supermarkets nationwide.
New Logistics Hub
CJ Logistics and Saigon Co.op held a signing ceremony for the MOU on Tuesday at the Saigon Coop headquarters in Vietnam. Key executives from both companies were present at the event: Kim Kwon Woong, head of the CJ Logistic Asia Pacific unit; Jang Bok Sang, CJ’s chief executive officer of Vietnam regional HQ; and Nguyen Anh Duc, president of Saigon Co.op.
CJ Logistics is building a new logistics hub with automation to speed up operations. Korea Logistics News reported that it is set to open this year, but the exact date is unknown.
“We will strengthen cooperation between the two companies by increasing Saigon Coop’s logistics efficiency and stability through our distribution logistics experience and automation technology across various product groups,” Kim Kwon Woong said in a press release. “Based on our unrivaled logistics competitiveness, we will strengthen cooperation in the Vietnamese distribution logistics market.”
He added, “We will actively target the logistics industry and contribute to the development of the logistics industry by transferring the cutting-edge technology we have built domestically to the world.”
Photo by: CJ Logistics Press Release
