Shin Young-su, CEO of CJ Logistics, Appointed as New Chairman of Korea Chamber of Commerce and Industry Logistics Committee

At the 49th Korea Chamber of Commerce and Industry Logistics Committee Appointment
"Leading the Development and Growth of the Logistics Industry"

Shin Young-su, CEO of CJ Logistics, was appointed as the new chairman at the 49th Logistics Committee meeting of the Korea Chamber of Commerce and Industry held on the 4th at the Korea Press Center in Jung-gu, Seoul.

Shin Young-su, CEO of CJ Logistics

CEO Shin joined Cheil Jedang in 1990 and served as head of the Cheil Jedang Bio Resources Business Division and CEO of Feed&Care. In 2020, he became the head of CJ Logistics' Parcel & E-commerce Division and has been serving as the head of the Korea Business Division since last year.

The Korea Chamber of Commerce and Industry Logistics Committee is composed of CEOs from the logistics industry. It collects industry opinions on logistics issues, engages in government advocacy activities, and provides information on domestic and international logistics industry trends. It was established in 2008.

Chairman Shin stated, "I will actively communicate with the Chamber and the committee members to ensure that the industry's voice is effectively reflected in government support policies related to the logistics industry, and I will take the lead in the development and growth of our logistics industry."

Meanwhile, the committee meeting was held under the theme "Challenges and Opportunities of Cross-border E-commerce Logistics." According to the committee, domestic e-commerce imports (direct purchase) grew from $1.24 billion in 2017 to $2.55 billion in 2030, approximately doubling, while e-commerce exports (reverse direct purchase) increased tenfold from $100 million to $990 million.

Professor Song Sang-hwa of Incheon National University, who gave the presentation, said, "According to McKinsey's analysis, the cross-border e-commerce market is rapidly growing, expected to increase from $300 billion in 2020 to up to $2 trillion by 2030. Especially, with China accounting for more than 30%, new and diverse distribution and logistics business opportunities are emerging in C-commerce." He added, "Since e-commerce exports are still in the early stages, it is necessary to establish response strategies. If it is difficult for our own platform to enter the global market, we should consider activating exports by having Korean sellers join global platforms."

He also presented four major logistics opportunity factors arising from the expansion of the cross-border e-commerce market: building a brand fulfillment service model, introducing various types of logistics services, securing corporate customs clearance capabilities and discovering good sellers, and establishing a logistics ecosystem.

Park Il-jun, Executive Vice Chairman of the Korea Chamber of Commerce and Industry, said, "The expansion of the cross-border e-commerce market and the entry of C-commerce into the domestic market will present new challenges and opportunities for the logistics industry. I hope that through the Logistics Committee, in-depth discussions on changes in the new business environment, advancements in new technologies such as artificial intelligence (AI) and robotics will take place."