Hyundai Glovis is strengthening its maritime logistics footprint with plans to build a large-scale facility at South Korea’s biggest port, extending the company’s reach in global shipping operations.
The logistics arm of Hyundai Motor Group signed an agreement to acquire 94,938 square meters of land at Busan New Port’s Ungdong District. The site will house a container yard and logistics center, scheduled for completion by 2027.
The expansion comes as Busan Port, ranked seventh globally in container volume, processed 20 million TEU through October. The port handles more than three-quarters of South Korea’s container traffic, making it a crucial link in regional supply chains.
The new facility’s location near Jinhae New Port opens possibilities for future expansion, according to company officials. They say the development will help shield operations from potential supply chain disruptions by providing dedicated container storage space.
The logistics center will offer comprehensive services including cargo inspection and storage. Company representatives indicate the facility’s design will be customized to meet specific client requirements, though they didn’t disclose investment details.
The move reflects growing demand for efficient supply chain management in Asia’s competitive shipping industry, where port capacity and location are key competitive advantages.
