Hyundai Glovis‘ executive vice president Jung Jin-woo (right) poses with his counterpart from Ulsan Port Authority, Jeong Chang-gyu, at an MOU signing ceremony in Ulsan on Jan. 14. (Hyundai Glovis)
Hyundai Glovis, a vehicle delivery arm of South Korea’s Hyundai Motor Group, is pushing deeper into the East Asian freight and logistics market.
The company, which in 2009 opened its third overseas office in Vietnam, has recently clinched a deal to build a logistics center in Ho Chi Minh City.
Under the agreement, Hyundai Glovis will team up with Ulsan Port Authority to construct and operate the facility on a 30,000 square meter plot.
Once completed, the center will serve as a logistic hub for auto parts and electronics items as well as refrigerated and frozen products.
Last September, the company forged a partnership with Thailand’s No. 1 business group, Charoen Pokphand, to tap into the country’s logistics market.
Under the partnership, the Korean firm will handle the logistics for all Seven Eleven convenience stores operated by the GP Group across the country. It is also running a pilot project with the Thai partner to deploy electric trucks for cargo delivery.
“East Asia is fast emerging as a regional logistic hub, drawing investments from overseas,” a Hyundai Glovis official said, saying the country plans to continue its forays in the market.
By The Korea Herald staff (email@example.com