Hyundai Glovis has announced a significant step forward in its logistics capabilities with the signing of a land purchase agreement on Nov. 13 with Busan New Port Ungdong Development . The agreement will see the establishment of a large-scale integrated logistics facility in the second phase hinterland of Busan New Port Ungdong District. The acquired land spans a total of 94,938 square meters (28,719 pyeong), equivalent to about 13 football fields, and is set to bolster the company’s supply chain infrastructure.

Hyundai Glovis, a key player in global logistics and part of the Hyundai Motor Group, aims to enhance its maritime forwarding competitiveness by setting up this new facility near Busan New Port, which ranked 7th globally in annual container throughput last year. The port is a critical hub for international shipping and logistics, handling 76.6% of South Korea’s domestic container throughput. Up to October this year, Busan New Port has processed a throughput of 20 million TEU (Twenty-foot Equivalent Units), underscoring its importance in global trade.

The new logistics facility, which Hyundai Glovis plans to complete by 2027, will include a massive container yard and a comprehensive logistics center. This development is expected to streamline the process of bringing in and transporting containers ready for export, thanks to its proximity to the terminal. By securing its own yard, Hyundai Glovis will be able to respond more stably even in the event of logistics disruptions, ensuring a more reliable supply chain.

A representative from Hyundai Glovis stated, “We will further enhance our maritime forwarding competitiveness by establishing large-scale infrastructure at Busan New Port, the largest port in Korea.” The representative also highlighted the strategic advantage of the facility’s location, noting, “The logistics facility is also adjacent to the currently developing Jinhae New Port, so there is a high possibility of business expansion.”

The comprehensive logistics center will enable Hyundai Glovis to provide unified services to customers, from unloading and inspecting goods from imported containers to storage. As a directly managed logistics center, the internal structure and functions can be tailored to meet the specific needs of customer companies, enhancing service efficiency and customer satisfaction.

Hyundai Glovis’s move to establish this integrated logistics facility is a strategic response to the growing demands of global trade and the need for more efficient supply chain management. The development of such infrastructure is crucial for maintaining competitiveness in the maritime forwarding industry, which relies heavily on the capacity and efficiency of logistics operations.

Source: Business Korea