Hyundai Glovis, a logistics arm of Hyundai Motor Group, will strive to expand its logistics business via global network it has established this year, as well as make a “quantum jump” by penetrating into new markets in 2020, according to the firm.
Under the 2020 vision, Hyundai Glovis said it will expand its non-subsidiary logistics business in the next year to step up as a global logistics firm.
This year alone, Hyundai Glovis has clinched three partnerships with Chinese firms to set up joint ventures there.
In November, the company has joined hands with Beijing Changjiu Logistics to launch two separate joint ventures -- Beijing Changjiu Glovis Automobile Service and Shanghai Changjiu Glovis Shipping -- to tap into the local secondhand car and shipping markets.
In July, Hyundai Glovis established its first Southeast Asian overseas corporation in Vietnam, with an aim to develop its non-automotive logistics business and discover new business opportunities.
In the same month, the company set up a branch in Delhi and Mumbai, India.
Earlier this year, the company established a subsidiary called Global Expedited Transportation for cargo transportation business in the United States.
Hyundai Glovis has also launched a joint venture called Stena Glovis SE with a Swedish shipping company Stena Rederi AB.