Hyundai Glovis teams up with Lion Group to enter Malaysian logistics market

[Provided by Hyundai Glovis]

Hyundai Glovis has joined hands with Malaysia’s Lion Group for expansion in Southeast Asian logistics service market.

Hyundai Glovis said Tuesday that it signed a memorandum of understanding with Lion Group for strategic partnership in global business and smart logistics solution market.

Hyundai Glovis is a unit of Korea’s Hyundai Motor Group, operating logistics and distribution service across the world. Lion Group is a Malaysian conglomerate with business ranging from steel to retail trading and property management.

Under the partnership agreement, Hyundai Glovis will work with Lion Group on upgrading the Malaysian firm’s steel transportation and distribution systems for greater operational efficiency, including cost reduction.

Hyundai Glovis will also collaborate on advancing Lion Group’s logistics system for retail operations by adopting smart solutions.

The Korean firm is actively expanding its presence in Southeast Asia. It has offices in Vietnam and Thailand, through which the logistics service firm is exploring new business opportunities in the region.