[2024 Korea Conference]
Facebook, Amazon, Instagram, and TikTok are global platforms that it’s no surprise that everyone knows. Another thing they all have in common is that they are the home of e-commerce. As of 2022, the global e-commerce market was worth over $15.7 trillion. And it’s still growing rapidly.
However, according to Charles Park, CEO of OurBox, the logistics market is not developing as fast as e-commerce. Park has worked as an executive at Pizza Hut Korea and AB InBev, the parent company of globally popular beer brands, has been in charge of logistics throughout his career.
As he saw the market increasingly reorganizing around e-commerce, he realized that logistics needed innovation, inspiring him to start developing a system in 2015 and founded OurBox in 2017.
OurBox, which is growing rapidly by handling the Korean logistics of large domestic companies such as Dongwon Group, GC Biopharma, and Shinsegae Food, as well as Kimberly-Clark’s Korean logistics operation, has set its sights on going global. “International logistics is becoming increasingly important as the number of direct shipments increases, so we value our sales activities in the U.S.,” Park said, explaining why he decided to participate in the Korea Conference.
The company aims to attract investment and find strategic partners through participation at this year’s Korea Conference. With a projected 2024 revenue of 65 billion Korean won (roughly $49 million), the company hopes to receive investment later this year and merge with a U.S. logistics company.
Park said the secret to OurBox’s rapid growth is talent management. Currently, OurBox has 150 full-time and 400 part-time employees. He calls himself a “people manager” rather than a CEO. Park emphasizes effort in hiring and managing employees. He believes that if the people he works with are talented, scaling the business will come naturally. As a result of this focus on human resources, OurBox is preparing to take the next leap forward with the development of its next-generation logistics system.
“We plan to evolve beyond being a warehouse and logistics service provider to selling the next-generation of platform system we are currently developing to global customers,” said Park, adding, ”We are confident that we have the technology to grow explosively as we continue to process more than two million boxes a month and accumulate data that will allow us to sophisticate our system.”
BY WONHEE CHO, HOONSIK WOO [cho.wonhee@koreadaily.com]
