[Infostock Daily= Reporter An Hoe Hyun] Hanwha Investment & Securities analyzed CJ Logistics Corporation on the 23rd that the positive effect of improving service quality will be greater than the burden of increasing labor costs.
CJ Logistics Corporation held a press conference on the previous day to apologize to the public and announce measures to improve treatment for the recent deaths of couriers.
In order to substantially shorten the classification time operated under the existing 1,000 persons, the company announced that it will gradually hire additional 3,000 persons from next month to expand the number of classification support personnel to 4,000 persons.
The increase in labor costs due to the expansion of CJ Logistics Corporation's classification workforce is estimated at 50 billion won per year and plans to share it with dealerships. Assuming that the company shares 5 to 5, Hanwha Investment & Securities estimates that the company will pay 25 billion won per year and 6 billion won per quarter.
The company explained, "The increase in service quality of the No. 1 service provider in the face of tight processing capacity in the overall delivery industry will not only widen the gap with competitors but also gain a more advantageous position in negotiating unit prices with customers in the future." Investment opinion Buy and target price maintained 200,000 won.
Reporter An Hoe Hyun ahh@infostock.co.kr
