Shinsegae Group and China's Alibaba Group decided to establish a joint venture to strengthen their competitiveness in the domestic e-commerce market, leading to a surge in CJ Logistics' stock price. This is interpreted as investors believing that Shinsegae Group and Alibaba Group will collaborate with CJ Logistics in logistics.
CJ Logistics' stock traded at 87,900 won in the KOSPI market at 9:55 a.m. on the 27th. The stock price rose by 8.25% (6,700 won) compared to the previous day. During the session, the price jumped to 91,000 won. CJ Logistics' stock price surpassed the 90,000 won mark for the first time since the 8th of last month.
The assessment that CJ Logistics could benefit from the collaboration between Shinsegae Group and Alibaba Group appears to have led to the rise in stock prices.
Shinsegae Group's E-Mart and Alibaba decided to establish a joint venture the day before. The key is that E-Mart will contribute its 80% stake in Gmarket along with Alibaba's AliExpress Korea equity and 300 billion won in cash to the joint venture. The two groups estimate the corporate value of the joint venture to be around $4 billion (approximately 6 trillion won).
Choi Woo-n, a researcher at Korea Investment Securities, noted, "E-Mart and AliExpress will strengthen their collaboration with CJ Logistics," adding, "Recognizing that it is difficult to catch up with Coupang alone in the e-commerce market, they will also likely drop their ambitions for logistics in-house."
Choi also stated, "As the two groups have once again shown their commitment to the e-commerce business, it will positively influence the rebound of parcel volume in 2025 and the establishment of seven-day delivery service."