Korea Cryogenics and Ecopro CNG Logistics Center Establishment
"Aiming to Achieve 20% Market Share in Logistics Automation"
Hyundai Glovis has secured a contract worth 40 billion KRW in its smart logistics solutions business, which it is focusing on as a future new growth area.
On the 17th, Hyundai Glovis announced that it recently signed a logistics system supply contract worth a total of 40 billion KRW with Korea Cold Chain and EcoPro CNG. This move comes as the company is actively expanding its business following last year's acquisition of logistics automation software company Altial.
Hyundai Glovis was selected as the automation solution provider for Korea Cold Chain, a cold chain (refrigerated and frozen logistics) specialist company, for the largest domestic Incheon frozen logistics center construction project running from next year through 2026. The company will supply smart logistics solution systems to an 8,000㎡ automated low-temperature center. The plan includes applying logistics automation equipment and software such as stacker cranes (cranes that assist in loading and unloading cargo on high shelves), shuttles and sorters (cargo movement and sorting equipment), and warehouse control systems (WCS), along with leveraging logistics operation know-how.
Hyundai Glovis has also partnered with EcoPro CNG, a battery recycling company under the EcoPro Group. Hyundai Glovis plans to build logistics automation solutions at the Blue Valley Industrial Complex in Pohang, Gyeongbuk, which EcoPro CNG is developing.
For the construction of an automated logistics center covering a total area of 1,022㎡, Hyundai Glovis will provide comprehensive logistics automation solutions, including consulting on automation equipment, design and construction, and the implementation of warehouse management systems (WMS) and warehouse control systems. Furthermore, the company plans to supply all-weather logistics automation solutions covering maintenance and management in the future. Construction is scheduled to begin in mid-year with completion targeted by the end of the year.
Hyundai Glovis is actively entering the rapidly growing logistics automation market. According to market research firms such as Interact Analysis, the global logistics automation market is expected to grow from 43 billion USD in 2022 to 106.4 billion USD by 2030. Hyundai Glovis also anticipates that the domestic related market, currently at around 800 billion KRW, will exceed 1 trillion KRW by 2025.
A Hyundai Glovis official stated, "We plan to aggressively expand orders by targeting six core industries: distribution, consumer goods, secondary batteries, automobiles, bio, and petrochemicals," adding, "Through this, we aim to achieve a 20% market share in the domestic logistics automation market next year."
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