[Special Stock] Hyundai Glovis Hits 52-Week High as Foreign Investors Continue Buying Spree

Hyundai Glovis shares surpassed 160,000 won, setting a new 52-week high.

As of 2:57 p.m. on August 7, Hyundai Glovis shares were trading at 166,500 won, up 4.44% from the previous day. During the session, the price climbed as high as 169,400 won, marking a new 52-week high. Considering that the stock price had nearly halved after a 1-for-1 bonus issue in July last year, the current price means the stock has almost doubled over the past year.

Foreign investors appear to have driven the stock price higher. They have been net buyers for 10 consecutive trading days, from July 25 through August 7.

The company’s record-breaking results for two consecutive quarters this year, as well as the first-ever annual CEO Investor Day in June last year where long-term future strategies were shared, seem to have played a significant role.

In the second quarter of this year, Hyundai Glovis posted sales of 7.516 trillion won and operating profit of 538.9 billion won, up 6.4% and 22.7% year-on-year, respectively. Net profit for the period soared 60.5% year-on-year to 502.6 billion won. All business segments performed well, and the shipping division, in particular, saw visible results as volumes from non-affiliated clients increased.

Hyundai Glovis plans to further strengthen its air logistics business in addition to its existing strengths in land and sea logistics, aiming to become a comprehensive logistics company covering land, sea, and air. The company has already invested a total of 200.6 billion won in the fund acquiring Asiana Airlines’ cargo division through Air Incheon, and expects business cooperation with the newly integrated entity, Air Zeta.