Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Naver and CJ Logistics are working on something new as part of their strategic alliance. The companies opened two new fulfillment centers in an effort to push for the next-day delivery service.
The Korea Herald reported that the move is also part of the plan to challenge Coupang in the field of the delivery business. It was last weekend when Naver and CJ Logistics’ plans were revealed and it was shared that the operations in the fulfillment center have already started.
Next day delivery push
The companies set up an all-around fulfillment center in Gunpo, Gyeonggi Province and another hub with a cold chain system for chilled and frozen products is opening soon as well. The second center is also in Gyeonggi, but it will be in Yongin. This second center is ready by August and is projected to shorten the processing time for deliveries.
The floor space of the warehouse in Gunpo is said to measure 38,400 square meters and it is a five-story building. This size is equivalent to five soccer stadiums, so there is surely enough space for everything, including storage, packing and shipping the items. Moreover, Naver and CJ Logistics’ new warehouse boasts of the latest logistics technology such as eFLEXS systems and MPS.
It was explained that the new fulfillment centers will have delivery drivers pick up packages and they will drop off the collected items at the main logistics site in Gyeonggi Province. In this way, customers can receive their packages the next day after placing an order on Naver’s shopping platform before midnight.
“While regular courier services stop taking orders at 3 p.m. before dispatching packages for the day, fulfillment centers send packages straight to the Gonjiam mega-hub terminal which is located one hour away without waiting for drivers or going to a sub-warehouse,” CJ Logistics stated.
AI logistics plans
Naver and CJ Group entered into a partnership and signed a ₩600 billion or $529 million deal last year. They are aiming to become a competitive e-commerce market in S. Korea and compete with Coupang.
To realize their goal, Naver and CJ Logistics are also working on expanding logistics infrastructure and in fact, as mentioned on News Directory3, it is carrying out Artificial intelligence (AI) logistics experiments in the new fulfillment centers to advance and make their services better. To be more specific, it is testing Colva Forecast, an AI for predicting logistics demand day ahead for the facilities to operate more effectively.
