Mesh Korea Surpasses 300 Billion KRW in Sales Last Year

"Early Profit Expected with Over 100% Target Achievement in All Business Sectors in Q1 This Year"

[Asia Economy Reporter Kim Cheol-hyun] Mesh Korea, operator of 'Boorung,' announced on the 31st that it recorded sales of 303.8 billion KRW last year, achieving its highest performance since its establishment. The company plans to continue its growth this year by encompassing quick commerce, dawn delivery, fulfillment, and IT logistics consulting.

Sales in 2021 reached 303.8 billion KRW, an 18.5% increase compared to 256.4 billion KRW the previous year, marking continuous growth. Regarding last year's business performance, Han Jang-hee, CFO of Mesh Korea, explained, "Quick commerce delivery has played a role in continuous cash generation through steady profit margin management, and the operating profit generated in this sector along with funds raised through the 2021 capital increase were invested in new areas such as dawn delivery, fulfillment business, and workforce expansion." The CFO added, "We expect an early turnaround to profitability through full-scale growth across all business sectors this year."

Since last year, Mesh Korea has achieved approximately 20-fold growth in the dawn delivery sector, surpassing its existing core business of quick commerce delivery. Following BGF Group's eco-friendly fresh food brand Hello Nature, in February this year, it has been exclusively handling dawn delivery for Gmarket and Auction, maintaining a steep growth trajectory. To support this, the company actively expanded its logistics infrastructure by operating the Gonjiam Fulfillment Center following Gimpo and Namyangju in February. This year, it plans to continuously increase key logistics hubs, including additional fulfillment centers and urban logistics centers (MFC).

The competitiveness of the quick commerce sector, which leverages a nationwide urban logistics hub and a directly managed delivery driver network, has also significantly improved. An integrated delivery system combining four-wheel and two-wheel vehicles was developed, and delivery competitiveness was further secured through the crowdsourcing platform 'Boorung Friends,' which allows general public participation using bicycles and walking as delivery methods, enabling the company to operate over 100,000 delivery drivers nationwide directly under headquarters management.

Choi Byung-jun, Head of Domestic Business Division, stated, "Mesh Korea is on track to achieve results exceeding 100% year-over-year in all business sectors in the first quarter of 2022, and positive outcomes are expected in all areas including external growth and solid management this year. By providing integrated data across Boorung services covering all distribution and logistics sectors, we will continue to strive for mutual growth with our client companies."

This content was produced with the assistance of AI translation services.