Hyundai Glovis wins $1.3bln Contract

By Vessels

Hyundai Glovis Co., the auto freight unit of South Korea's Hyundai Motor Group, said last week that it has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles built by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp.

Hyundai Glovis wins $1.3bln Contract
Caption: Vehicles Carrier Glovis Challenge

Under the two separate deals, Hyundai Glovis said it is set to ship Hyundai and Kia cars to the United States, Europe, the Middle East and Asia until December 2019.

The two deals cover up to 60 percent of Hyundai and Kia's exports, respectively.

Hyundai Glovis is a major logistics service provider for Hyundai Motor Group, which owns Hyundai Motor and Kia Motors, the country's No. 1 and No. 2 carmakers.

Source: Yonhap