"Hyundai Glovis Advances Future Business with Acquisition of Logistics Automation Software Company"

Acquisition of 'Altiol'... "Accelerating Smart Logistics Solution Business"

Hyundai Glovis announced on the 19th that it has signed a Stock Purchase Agreement (SPA) related to the acquisition of shares with RTIOL, a logistics automation solution specialist company. The company plans to accelerate its smart logistics solution business, identified as a future growth engine.

This business involves applying various software and hardware technologies such as artificial intelligence (AI), big data, and robotics to all logistics processes including product receipt, management, sorting, and transportation to enhance logistics efficiency.

Founded in 2017, RTIOL has secured competitiveness in the design, development, and construction of control systems in the logistics automation software sector, which is core to the smart logistics solution field. It was the first in Korea to rebuild and apply automation software without halting logistics center operations, improving operational productivity by up to 30%.

In addition, Hyundai Glovis has made equity investments in Boston Dynamics, a U.S.-based robotics company, to expand its business and is closely collaborating to utilize the logistics robot Stretch. Earlier this year, it also provided consulting services (center construction, maintenance, and supply of combined packaging robot logistics systems) to a well-known domestic fashion platform’s logistics specialist company. As a result, the sorting processing volume per hour increased approximately tenfold from 600 to 5,700 cases.

The company has set a goal to rank among the top in the domestic logistics automation market by 2025 through the acquisition of RTIOL. It also plans to pursue overseas expansion thereafter.

A Hyundai Glovis official stated, “We have undertaken active investments to establish a foundation for sustainable corporate growth. We will continue to make more proactive and bold investments in businesses we aim to nurture as core, including the smart logistics solution business,” adding, “We will actively foster future growth engines to further enhance corporate value alongside our existing logistics, shipping, and distribution businesses.”

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