South Korea-based CJ Logistics is taking full control of its Vietnam logistics joint venture, according to The Korea Times, as it sharpens its focus on higher-margin contract logistics within the logistics and transport sector.

The company will acquire the remaining 49.1% stake in CJ Gemadept Logistics Holding from partner Gemadept, securing 100% ownership, while divesting its 49% stake in the affiliated shipping unit back to Gemadept.

The transaction separates logistics and maritime operations, enabling each company to operate independently and concentrate on core capabilities across warehousing, distribution, and transport services.

CJ Logistics previously held 50.9% of the logistics entity and 49% of the shipping arm, both established in 2018 to jointly develop Vietnam’s supply chain infrastructure.

The restructuring aligns with CJ Logistics’ strategy to prioritise contract logistics, driven by rising demand for integrated services across manufacturing, retail, electronics, and chemicals sectors in Vietnam.

According to Expert Market Research, Vietnam’s logistics market is projected to reach approximately $56bn (€48.7bn) in 2025, supported by annual growth of around 15% in recent years.

A company official said the stake swap reflects a “selection and focus” strategy, adding: “We will actively transfer our core, or warehouse and distribution, capabilities to Vietnam and grow together with local customers.”

CJ Logistics plans to expand logistics infrastructure, including distribution centres, while deploying advanced technologies from its TES logistics research institute to improve operational efficiency and scalability.

The company’s long-standing presence in Vietnam, supported by Gemadept’s domestic network, underpins its ambition to build a fully integrated logistics platform in one of Asia’s fastest-growing markets.

Access the full report for comprehensive details about how CJ Logistics doubles down on Vietnam with full takeover of a joint venture unit.