Hyundai Glovis forges logistics partnership with China's Changjiu Group
SEOUL, AJU - Hyundai Glovis, a logistics arm of South Korea's Hyundai auto group, forged a strategic partnership with China's Changjiu Group to find new business opportunities and expand cooperation in local and global logistics businesses.
The partnership was sealed on Tuesday at Changjiu's headquarters in Beijing. Hyundai Glovis has an independent logistics network in China, while the Chinese group is involved in the transportation of finished and uses vehicles.
Hyundai Glovis said Wednesday that it has agreed with Changjiu to seek cooperation in vehicle logistics in China and other areas. Hyundai Glovis' car carrier (PCC) and Changjiu's finished vehicle transportation network would be combined. The two companies plan to develop new sea routes around China.
“We had a good chance to strengthen our logistics business in China and globally,” Hyundai Glovis CEO Kim Jung-hoon said in a statement.
Hyundai Glovis said it would make inroads into China's used car market by utilizing Changjiu's car sales network. They would seek to expand their railway logistics business linking China and Europe by utilizing Hyundai Glovis' European logistics hub. The first consideration in their railway logistics cooperation is the transportation of finished vehicles between China and Europe.
“We believe that combining Hyundai Glovis' business know-how and global network with Changjiu Group's specialized automotive sales logistics capabilities will have a great synergy effect,” Changjiu chairman Bo Shijiu was quoted as saying.