Hyundai Movex Accelerates Overseas Market Expansion... "Creating New Growth Foundations"

[Asia Economy Reporter Yoo Hyun-seok] Hyundai Movex announced on the 19th that it will embark on full-scale global business expansion following its success in securing the contract for subway screen doors in Sydney, Australia.

On the 22nd of last month, Hyundai Movex signed a contract with Sydney Metro in Australia for the manufacturing, supply, and installation of screen doors and safety platforms. The company will participate in the 'Sydney Metro City & Southwest Project,' the largest urban railway construction project in Australia.

This contract involves installing 360 screen doors and 150 safety platforms at 10 stations on the Sydney Southwest line (Marrickville to Bankstown). The manufacturing and supply contract is valued at approximately 35.7 billion KRW. The installation portion will be negotiated as an additional contract in the future.

Hyundai Movex was selected as the final contractor after passing all verifications of the screen doors' 'performance,' 'reliability,' and 'safety' during a bidding process lasting over three years. The mechanical 'safety platform' (an automatic device that fills the gap between the train car and the platform) is a technology being introduced for the first time in Australia and is attracting attention.

Hyundai Movex's screen doors have been supplied to over 400 stations nationwide, establishing a dominant business position domestically. This is the company's first overseas screen door project. It is a valuable achievement that lays the foundation for expanding global business in the advanced Australian market.

The company's core business, 'smart logistics automation,' is also continuing its overseas success. From 2019 to 2022, Hyundai Movex built tire processing, cold storage, and airport logistics solutions in countries such as China, Vietnam, and Bangladesh. The company is recognized locally for its high quality and technological capabilities.

Hyundai Movex has set creating new growth foundations through overseas business expansion as its main goal for this year. Centered on smart logistics, the company plans to actively target both emerging and advanced markets by leveraging advanced automation solutions such as secondary battery equipment. Hyundai Movex stated, "To successfully carry out our first overseas screen door project, we will fully utilize the business capabilities we have built over the past 20 years," adding, "As we are focusing on our global expansion strategy, we expect various overseas business achievements to become visible in the new year."