Expanding Industries and Overseas... Hyundai Movex Smart Logistics Receives Praise

Accumulated Orders of 270 Billion KRW from January to October... Surpassing Last Year
New Business Achievements in Secondary Batteries Gain Momentum

Hyundai Mobex, a logistics solution subsidiary of Hyundai Group, announced on the 6th that its cumulative new order amount from the beginning of this year to last month is estimated at 270 billion KRW. This surpasses last year's annual order scale of approximately 220 billion KRW.

The company is steadily expanding its customer base across various industries including secondary batteries, food and beverage, and pharmaceuticals. In September, it signed a logistics automation supply contract with a global battery company. The following month, it secured more than two orders for automated warehouse systems at new production bases being built domestically and internationally by a leading food company.

Hyundai Movex Cheongna Research and Development (R&D) Center Exterior View [Photo by Hyundai Group]

The company stated, "The fact that the secondary battery sector has rapidly achieved significant results in the new business division is meaningful," adding, "Since entering the battery process logistics business in April, the new business has been put on a solid track within five months."

With new orders concentrated in the second half of the year, this year's performance is expected to reach the highest annual level. The order backlog exceeded 300 billion KRW as of the end of last month. The company plans to focus on industries where it has strengths, such as secondary batteries and tires, through this month and next.

The increase in overseas business proportion is also notable. The company's overseas site ratio based on order amount doubled from 26% in 2021 to 52% in the first half of this year. The scope has expanded to emerging Asian markets such as China and Vietnam, as well as advanced markets including North America and Australia.

The company said, "The entry into the secondary battery new business has led to smart logistics solutions being highly valued in the market," and added, "We will strive for business diversification and technological advancement." Hyundai Mobex operates in the smart logistics solution business and also engages in IT services and platform screen door (PSD) business for boarding areas.