Korea Electronics Holdings is showing strong performance. This is interpreted as being influenced by the news that the Chinese e-commerce platform AliExpress plans to invest 1.4 trillion KRW in Korea and build a logistics center.
As of 2:29 PM on the 14th, Korea Electronics Holdings is trading at 973 KRW, up 4.85% compared to the previous day.
According to industry sources, Alibaba Group recently submitted a business plan to the government to invest $1.1 billion (approximately 1.4471 trillion KRW) over the next three years to expand its business in Korea.
The plan includes investing $200 million to build an integrated logistics center (fulfillment center) within this year, covering an area of 180,000㎡ (approximately 54,450 pyeong), equivalent to the size of 25 soccer fields. This is interpreted as a strategy to significantly reduce product delivery times and enhance competitiveness by securing a domestic logistics center.
Meanwhile, Korea Electronics Holdings was selected for the first and second phases of the national project to establish and operate a smart logistics platform in the KED Device Industrial Complex in 2022 and last year. It is also known to have been responsible for constructing Coupang’s logistics center in 2021.
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