Hyundai Glovis Supports Startup's 'Geungeori Delivery Platform' Business

Hyundai Glovis 'Smart Move Challenge' Project Outcomes

[Asia Economy Reporter Yoo Je-hoon] Hyundai Glovis announced on the 9th that it held a business agreement ceremony to support the 'urban idle space utilization last-mile delivery platform' of the startup company 'ParkAI.'

The ParkAI last-mile delivery platform business aims to build logistics infrastructure in urban areas rather than the outskirts of the metropolitan area to increase delivery speed. It uses idle spaces with good accessibility in the city as warehouses to store the shipper's products and deliver them immediately to customers by truck and two-wheeled vehicles.

The last-mile delivery platform business is expected to launch services in Seoul. As of last year, the domestic e-commerce market was about 13.8 trillion KRW, and the urban logistics market was 6.6 trillion KRW, indicating a large scale and high growth potential, according to the company.

This agreement is the result of Hyundai Glovis's new business idea contest 'Smart Move Challenge' held last year. ParkAI, which was selected as the final winner after document screening and presentation evaluation, has concretized its business model over the past four months and gained recognition for its potential, becoming the first company to participate in Hyundai Glovis's startup incubating program.

Accordingly, Hyundai Glovis plans to financially support ParkAI for one year to help concretize its business and assist in establishing the platform foundation by utilizing existing business know-how.

A Hyundai Glovis official said, "With the global expansion of untact consumption, we expect the business potential of rapid urban logistics services to be significant," and added, "We will continue to actively support new ideas from promising logistics startups."

This content was produced with the assistance of AI translation services.