Hyundai Glovis establishes transport subsidiary in US

Hyundai Glovis, a supply chain management and logistics arm of Hyundai Motor Group, said Thursday it has established a subsidiary company for cargo transportation business in the United States.

The company, Global Expedited Transportation, has been set up as a subsidiary of Hyundai Glovis America. It will directly operate cargo transportation between the West Coast and East Coast. The operations were managed on a consignment basis until now. 

Hyundai Glovis’s chief of logistics business Jeon Geum-bai (third from left), GET CEO Baek Seung-moon (fourth from left) and Rialto Mayor Debora Robertson pose for a photo during a celebration of the departure of a truck at GET’s headquarters in California, US, Wednesday. (Hyundai Glovis)

Hyundai Glovis said GET will find new partners and load different cargo categories including products like electronic goods to materials, plastic and textiles.

Currently, trucks account for some 80 percent of the entire logistics transportation in the US, while the rest is delivered through air, railway or shipping. The annual truck transportation business size in the US amounts to $622 billion, the firm said.

“By establishing a subsidiary in the US, we have an opportunity to increase the stability of our transportation business and find new projects in the world’s largest truck network and market,” said a Hyundai Glovis official. 

By Kim Da-sol (ddd@heraldcorp.com)

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