KT Becomes Second Largest Shareholder of TeamFresh with 11.4% Stake

55.3 Billion KRW Investment

[Asia Economy Reporter Cha Min-young] Last year, KT, which established a logistics specialized company, became the second largest shareholder by investing 55.3 billion KRW in Teamfresh, a domestic cold chain specialized logistics company.

On the 27th, KT announced that as a strategic investor, it acquired new and existing shares of Teamfresh, becoming the second largest shareholder (with approximately 11.4% stake).

Founded in 2018, Teamfresh provides comprehensive cold chain platform services centered on dawn delivery and fresh food delivery, including freight forwarding and food ingredient supply. Based on large-scale logistics centers equipped with refrigerated and frozen facilities and a network of about 9,000 vehicles, it comprehensively provides logistics functions to its clients. Its monthly sales amount to approximately 20 billion KRW.

Teamfresh is also the second largest shareholder holding a 20% stake in RollLab, a logistics specialized group company established by KT last year.

Choi Kang-rim, Head of KT’s Artificial Intelligence (AI) Mobility Business Division (Executive Director), said, "Through close partnerships with logistics specialized companies such as Teamfresh, we will create successful cases utilizing AI-based logistics digital transformation (DX) capabilities and contribute to enhancing the competitiveness of the domestic logistics industry."

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