Samsung SDS Acquires Woojung Air Consolidation to Boost Profits
· Source: businesskorea.co.kr
In short
Samsung SDS has signed a share purchase agreement to acquire a 100% stake in air cargo specialist Woojung Air Consolidation, targeting completion by year-end to create a wholly owned air freight consolidation subsidiary. The move aims to lift the logistics division's thin margins (1.8% operating margin on 7.39 trillion won revenue last year) and to digitalize air cargo operations by linking Samsung SDS's Cello Square platform with Woojung's iNomad. Woojung's logistics center near Incheon International Airport, with integrated security screening and cargo loading, is expected to cut time and costs while supporting Asian transit cargo and Korean e-commerce exports.
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Tags: logistics, air cargo, freight forwarding, consolidation, automation