Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
CJ Logistics revealed it will be building a distribution center in Saudi Arabia as it expands its business in the Middle East. The leading logistics company in South Korea shared this plan with the public on Thursday, May 11.
CJ Logistics is looking to open its Global Distribution Center (GDC) in the kingdom by next year. The facility will rise on a large space in the Special Integrated Logistics Zone at King Khalid International Airport in Riyadh. The building is set to become the very first dedicated e-commerce logistics hub in the country.
As per The Korea Times, the company’s GDC will feature state-of-the-art tools and equipment. Its estimated floor area is about 18,000 square meters, and is expected to handle approximately 15,000 boxes per day. The distribution center will become the forwarding base for logistics in Saudi which has easy links to the Middle East, Europe, and Africa.
For this GDC project in the region, CJ Logistics signed an 8-year agreement with iHub earlier this year. The logistics center will also ship iHerb products to the ME. The health and wellness products would probably be mainly sourced in the U.S., where they originated.
The Korean logistics firm is investing about KRW60 billion or $45.4 million for the construction of its global distribution center, The Korea Economic Daily reported. The establishment of the center will mark the company’s strategic entry into the Middle Eastern logistics market. Once in full operation, it will handle orders and deliveries across nine countries in the Middle East, including Kuwait, UAE, and Saudi Arabia.
"The Saudi e-commerce market has high growth potential and the geographical advantage of Saudi Arabia, connecting Africa and Europe," Kang Sin Ho, the chief executive officer of CJ Logistics, said in a statement. "We will deploy the most advanced logistics technology to position the Saudi GDC as a leading logistics hub in the Middle East e-commerce market."
He added, "We will spare no support for state-of-the-art logistics technology and infrastructure so that the GDC can become a logistics hub that leads the Middle East e-commerce market."
Photo by: CJ Logistics Library
