Samsung will not spin off logistics BPO division
Samsung SDS Co, a logistics and IT solutions unit of Samsung Group, said it will not spin off its logistics business process outsourcing (BPO) division this year. The company will instead focus on strengthening its overseas presence, according to Chung Yoo-sung, president and CEO of Samsung SDS. Samsung SDS had been reviewing a plan to spin off its logistics BPO unit to strengthen logistics competitiveness since June last year. It has spun off logistics units from its overseas subsidiaries in Singapore, Brazil, the United States, and China since last year. Chung said adding new logistics bases abroad should come before spinning off the logistics business.
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