Hyundai Glovis opens its first SE Asia logistics office in Vietnam
SEOUL, NNA - Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, has launched its first Southeast Asian subsidiary in Vietnam to broaden its global reach and expand its presence in the region.
The subsidiary in Hanoi will offer transportation services for vehicles and automobile parts, the company said on Thursday.
Hyundai Glovis also said in a statement that it plans to open a sales office in Ho Chi Minh City in the first half of 2020 to handle the transportation of consumer goods including food, textiles and clothing for local and foreign companies based in southern Vietnam.
Vietnam's logistics market has seen annual growth of 15 to 20 percent since 2017 and is currently estimated at $60 billion, according to the Korea Trade-Investment Promotion Agency.
Hyundai Glovis has two other Asian subsidiaries in China and India.