Mesh Korea Achieves 256.5 Billion KRW in Sales Last Year... 58% Increase YoY

Average Annual Growth of 87% Over the Past 3 Years

[Asia Economy Reporter Kim Cheol-hyun] Mesh Korea (CEO Yoo Jung-beom), which operates the logistics brand 'Boorung,' announced on the 28th that its annual sales last year were tentatively estimated at 256.5 billion KRW. This figure represents a 58% increase compared to the previous year, showing a steep average annual growth rate of 87% over the past three years. Since Mesh Korea officially launched the Boorung service in 2016 with sales of 5.2 billion KRW, it achieved 30.1 billion KRW in 2017, 73 billion KRW in 2018, and 161.5 billion KRW in 2019.

Mesh Korea explained that as the era of full-scale non-face-to-face economic activities opened due to the novel coronavirus disease (COVID-19), the role of logistics and delivery has grown, and they have led the non-face-to-face era through differentiated digital logistics innovation based on IT. In particular, to respond to the increasing number of clients and volume, Mesh Korea opened a logistics center of about 2,500 pyeong equipped with a full cold chain system in Gimpo and Namyangju at the end of last year. Centered on the logistics center, they have established a logistics network including about 280 Boorung trucks, approximately 49,000 affiliated delivery drivers, and about 440 Boorung stations nationwide as delivery hubs.

Expanding the range of corporate logistics service options, they have secured about 290 corporate clients including KT, Emart, Cookat, Heodak, and Ganong Bio. Especially, by upgrading the IT platform with a digital logistics system and achieving efficiency through big data and artificial intelligence (AI) technology, they have realized continuous sales growth. Mesh Korea plans to establish itself as a comprehensive digital logistics company based on its network and IT capabilities.

Yoo Jung-beom, CEO of Mesh Korea, said, "In the era of the non-face-to-face economy, focusing on fast and accurate delivery capabilities through online channels enabled us to achieve such sales." He added, "Although we provide IT-based logistics services, the foundation of logistics service is people. We will strive to become a company that satisfies customers, businesses, and industry workers alike."