Hyundai Glovis to Invest 180 Billion Won in Building Logistics Base at Busan New Port

On the 28th, Hyundai Glovis signed a multilateral investment agreement (MOU) with Gyeongsangnam-do Province, Changwon City, and the Busanjin-Hae Economic Free Zone Authority for the establishment of the Busan New Port Complex Logistics Center.

The signing ceremony, held at the Westin Chosun Hotel in Jung-gu, Seoul, was attended by more than 300 participants, including Kyubok Lee, CEO of Hyundai Glovis, Myungjoo Kim, Vice Governor for Economic Affairs of Gyeongsangnam-do Province, Keumyong Jang, Acting Mayor of Changwon City, and Sungho Park, Commissioner of the Busanjin-Hae Economic Free Zone Authority.

Kyubok Lee, CEO of Hyundai Glovis (second from the right), is taking a commemorative photo after signing a multilateral investment agreement (MOU) for the establishment of the Busan New Port Complex Logistics Center with Gyeongsangnam-do Province, Changwon City, and Busanjin-Hae Economic Free Zone Authority at the '2025 Gyeongsangnam-do Investment Attraction Briefing' held at the Westin Chosun Hotel in Jung-gu, Seoul on the 28th. Hyundai Glovis

Through this agreement, cooperation will be strengthened between companies investing in business sites in Gyeongsangnam-do Province and the relevant local public institutions. Last year, Hyundai Glovis secured a 94,938-square-meter (28,719-pyeong) plot of land in the second-phase hinterland of the Ungdong District at Busan New Port. This area is equivalent to the size of 13 soccer fields.

Additionally, the company plans to invest approximately 180 billion won to build a large-scale container yard and an integrated logistics center. Construction is scheduled to begin in the first half of next year, with completion targeted for the second half of 2027.

Once Hyundai Glovis' directly operated container yard is completed, it will be able to store a large volume of containers at once. Its proximity to the terminal will enable efficient entry and transportation of containers awaiting export, and as a self-operated yard, the company will be able to respond stably to unexpected disruptions such as logistics crises.

Upon completion of the integrated logistics center, all processes from unloading and inspecting imported cargo from containers, to storage, collection, and pre-shipment processing, will be unified. As it is a directly operated logistics center, the internal structure and functions can also be designed to suit the needs of client companies.

With the establishment of the Busan New Port Complex Logistics Center, Hyundai Glovis plans to actively expand its business not only in its core area of automotive parts, but also in non-affiliated cargo such as batteries, refrigerated and frozen goods, and project cargo.

A Hyundai Glovis representative stated, "By strategically establishing infrastructure at Busan New Port, a key logistics hub in Korea, we expect to both strengthen our competitiveness and contribute to revitalizing the local economy."