국내 물류 기업의 인수합병(M&A) 동기에 관한 연구
An Study on the Motives for Mergers and Acquisitions in Korean Logistics Companies
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초록
기업 인수합병은 기업이 시장 및 기술 환경 변화에 빠르게 대응하기 위한 사업 핵심 전략으로 글로벌 기업과 국내 대표 디지털 플랫폼 기업은 신성장 동력 발굴과 기업 성장에 적극적으로 활용하고 있다. 국내 물류 기업도 국내 물류 시장의 성장 한계를 체감하기 시작하고 디지털 신기술과 COVID-19 이후 급변하는 물류 시장에 대한 새로운 활로를 모색하기 위해 인수합병 사례가 증가하게 되었다. 본 연구는 국내 물류 기업의 인수합병 동기, 동기 유형, 동기 변화를 사례를 중심으로 분석하였다. 분석을 위해 국내 물류 기업들의 사례를 오픈 코딩 절차를 통해 주제별 분석 방법을 이용하였다. 분석 결과는 국내 물류 기업의 가장 큰 인수합병 동기는 국내 물류 시장 한계로 인한 글로벌 시장으로 확대하는 것이었고 인수합병 동기의 다른 축인 기술 확보 측면에서는 국내 물류 대기업들은 인수합병보다는 자체 기술 역량 확보로 대응하고 있다는 것을 알 수 있었다. 본 연구를 통해 국내 물류 대기업도 빠르고 기술력 있는 스타트업 인수를 통한 디지털 혁신 전략을 확보하는 것이 필요하고 실무적으로는 물류 기업, 스타트업, 투자자에게 국내 물류 기업 인수합병을 위한 시사점을 제공하고 있다.
Abstract
The Mergers and acquisitions are a key business strategy for companies to quickly respond to changes in the market and technology environment, and global companies and leading digital platform companies in Korea are actively utilising them to discover new growth engines and grow their companies. Korean logistics companies have also begun to experience the growth limitations of the domestic logistics market and have been increasingly engaging in mergers and acquisitions to explore new opportunities in the rapidly changing logistics market in the wake of new digital technologies and COVID-19. This study analyses the motives, types of motives, and changes in motives for mergers and acquisitions of Korean logistics companies through case studies. To analyse the cases of Korean logistics companies, a thematic analysis method was used through an open coding procedure. The results of the analysis show that the most important M&A motive of Korean logistics companies is to expand into the global market due to the limitations of the domestic logistics market, and in terms of technology acquisition, the other aspect of M&A motives, Korean logistics conglomerates are responding by securing their own technological capabilities rather than mergers and acquisitions. This study suggests that Korean logistics conglomerates should secure their digital transformation strategy by acquiring fast and technologically advanced startups, and provides practical implications for logistics companies, startups, and investors for mergers and acquisitions in Korean logistics companies.
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