Glovis Enters Malaysian Logistics Market... Partners with Local Company

[Asia Economy Reporter Choi Dae-yeol] Hyundai Glovis announced on the 16th that it has signed a strategic partnership (MOU) with Malaysia's Lion Group for 'collaboration in global business and smart logistics solutions.'

Lion Group is a comprehensive conglomerate that has expanded its business into various fields including steel, distribution, real estate development, and agriculture. With annual sales of approximately $3 billion (about 4 trillion KRW) last year, it operates in more than 10 countries including Southeast Asia, China, and the United States. It is the parent company of Parkson Department Store, which has 82 stores in six Asian countries.

To enhance logistics efficiency across various business areas, Lion Group decided to collaborate with Hyundai Glovis, which has extensive business experience. Early next year, they plan to review the logistics status of the steel business to identify areas for improvement. They will also pursue measures to increase efficiency by implementing new IT operating systems such as an integrated transportation management system.

In the future, they will jointly promote logistics sales targeting large global companies entering the local market. Lion Group plans to introduce smart logistics solutions in the distribution sector, where it has strengths, to improve logistics operations such as order and inventory tracking and warehouse management. Furthermore, leveraging Malaysia's geographical advantage as a gateway to Southeast Asia, they will collaborate when expanding into neighboring ASEAN countries.

The signing ceremony held on the 15th at Hyundai Glovis headquarters was attended by Serena Cheng, Executive Director of Lion Group and a member of the owner family, and Park Man-su, Head of Hyundai Glovis Smart Innovation Division. Following the establishment of subsidiaries in Vietnam in 2019 and Thailand this year, Hyundai Glovis has now entered Malaysia, a key country in Southeast Asia.

A company official said, "We will take this as an important opportunity to strengthen our global business competitiveness in Malaysia, which has great potential as a logistics hub in Southeast Asia."