Hyundai Glovis has been named this year's fastest-growing logistics brand as its brand value soared by 81 percent to reach $3 billion, the Korean logistics firm under Hyundai Motor Group announced Thursday.
According to UK-based brand valuation consultancy Brand Finance, Hyundai Glovis ranked 21st on the list of the world’s top 25 logistics brands, becoming the only Korean company to make the list.
On Hyundai Glovis' rapid rise, Brand Finance said, “Its sharp rise is driven by investments in green logistics and advanced shipping, including (liquefied natural gas) and hydrogen-powered vessels, reinforcing its leadership in sustainable transport solutions.”
Hyundai Glovis received an excellent score of 86.1 points in the Brand Strength Index, ranking fourth among logistics firms. The global valuation consultancy pointed to the 6.7 trillion won ($4.8 billion) deal Hyundai Glovis signed last year with Hyundai Motor and Kia to ship cars as a factor behind the greater awareness of the logistics firm’s brand.
Brand Finance also highly valued Hyundai Glovis’ project to set up a complex logistics facility at the Busan New Port by 2027 to expand its global network.
Hyundai Glovis unveiled a roadmap in 2023 to reach carbon neutrality by 2045, committing to a 2.5 trillion won ($1.8 billion) investment in vehicle carriers powered by LNG and adding more of them to its fleet.
“The (brand) valuation represents global recognition of our creation of positive values through sustainable business management with the utmost priority on customers,” said a Hyundai Glovis official.
“We will continue to do our best to strengthen our business competitiveness and create future-oriented value.”
hwkan@heraldcorp.com
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