Hyundai Glovis to supply $29 mn logistics automation systems

South Korea's Hyundai Glovis Co. announced on Wednesday that it signed a contract with Korea Superfreeze Inc. and EcoPro CnG to supply logistics automation systems, with the combined value of these contracts amounting to 40 billion won ($28.9 million).

The company will supply an automation solution for a project undertaken by Korea Superfreeze Inc., establishing the largest cold storage logistics center in Incheon.

The company will build an automated logistics system at EcoPro CnG's facility in the Blue Valley Industrial Park in Pohang, North Gyeongsang Province, a battery recycling company under the EcoPro Group.

Hyundai Glovis is developing smart logistics as a key area for future growth. Last year, the company acquired Altiall Inc., which specializes in logistics automation software, aiming to make smart logistics a new source of revenue.

The company plans to drive digital transformation (DX) focused on optimization simulation algorithms, robotics, artificial intelligence (AI), and digital twins to provide optimal solutions tailored to the logistics environment of its customers.

Hyundai Glovis is targeting order acquisition in key industries including distribution, consumer goods, secondary batteries, automotive, biotech, and petrochemicals, to achieve a 20% market share in Korea's automated logistics market by 2025.

Write to Jin-Won Kim at jin1@hankyung.com