Hyundai Glovis secures contracts worth $1.3bn

Hyundai Glovis secures contracts worth $1.3bn

Hyundai Glovis, the auto shipping unit of South Korea’s Hyundai Motor Group, has secured KRW1.42 trillion ($1.3bn) worth of contracts to transport vehicles for Hyundai Motor and its affiliate Kia Motors.

Under the two separate deals, which account for up to 60% of Hyundai and Kia’s exports, Hyundai Glovis will ship Hyundai and Kia cars to the United States, Europe, the Middle East and Asia until December 2019.

In July 2017, Hyundai Glovis signed a share purchase agreement to take over full equity in Eusu Ship Management for KRW11bn to enhance its shipping business.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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