Friendship Logistics Business Secures European Foothold with Hungary Warehouse Contract

Contracted 5,000 Pyeong with Hungarian Budapest Local Company 'Magyar Posta'
Aiming to Provide Integrated Logistics Services from Transportation to Storage in Hungary

Logistics company Ujeong Logistics announced on the 14th that it has signed a contract for a logistics warehouse of approximately 5,000 pyeong with the local company Magyar Posta in Budapest, Hungary. This is being evaluated as securing a foothold for entry into the European market.

The Hungarian warehouse secured by Ujeong Logistics is located in Dunaharaszti, an area directly adjacent to Budapest. It has the advantage of enjoying all the geographical benefits of Budapest.

Budapest is emerging as the next-generation hub of the Eastern European logistics market, including Poland, Slovakia, and the Czech Republic. The company plans to use this Hungarian logistics warehouse as a base for its Eastern European logistics business and actively strengthen its local network.

In particular, this logistics warehouse acquisition is expected to serve as a foundation for the growth of logistics business expansion into Europe. Based on this, the strategy is to provide integrated logistics services locally in Hungary, from transportation to storage.

Ujeong Logistics is also accelerating the development of smart logistics technology for all logistics, shipping, and air transport from Korea to Europe, targeting all courier companies, delivery workers, and e-commerce operators. They are also intensively working on developing algorithms to provide these services.

This technology integrates an API that can commercialize a B2B platform dedicated to daily logistics delivery, enhancing convenience for users. Additionally, it includes an artificial intelligence (AI) system that settles and classifies the size of courier items on-site, and optimizes delivery drivers' scheduling for route optimization, reducing fuel costs and time.

To improve the efficiency of smart logistics and green logistics systems and daily delivery services, a high-level smart logistics system will also be applied locally in Europe.

Ujeong Logistics has shown an annual growth rate of 200-300%. Its operating profit margin is 24%. The current corporate value based on sales and net profit is about 20 billion KRW (PER). Currently, it is using a logistics center of 3,000 pyeong. Additionally, it has started construction of a logistics building of about 2,000 pyeong near the Gimpo Pungmu Station area development site.

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