Hyundai Glovis Considering Participation as Investor in Acquisition of Asiana Cargo

Hyundai Glovis is reportedly considering participating in the acquisition of Asiana Airlines' cargo division.

According to industry sources on the 1st, Hyundai Glovis, a transportation affiliate of Hyundai Motor Group, is weighing the option of joining the Air Incheon consortium, which is pursuing the acquisition of Asiana Airlines' cargo division, as a strategic investor (SI).

[Photo by Hyundai Glovis]

Hyundai Glovis is known to have been considering entering the acquisition battle for Asiana Airlines' cargo division as an SI from the early stages of the merger and acquisition (M&A) process.

Earlier, Lee Gyu-bok, CEO of Hyundai Glovis, announced at the '2024 CEO Investor Day' held in June that the company plans to invest 9 trillion won in new investments by 2030. At that time, CEO Lee stated, "While efficiently managing existing assets, we will secure sustainable growth momentum through core asset investments averaging about 1.3 trillion won annually," adding, "We also plan to actively consider growth through M&A as strategically necessary."

A Hyundai Glovis official commented, "It is under review, but nothing has been finalized."

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