Hyundai Glovis Wins "$6 Billion Export Tower" Award, Vows to Strengthen Export Competitiveness

Supporting Overseas Production Through Auto Parts Exports

Hyundai Glovis received the $6 billion Export Tower award at the 62nd Trade Day ceremony held on December 4 at COEX in Gangnam-gu, Seoul. The company achieved export performances of $5.8 billion in 2023, $5.9 billion in 2024, and reached $6.1 billion this year.

Prime Minister Kim Minseok (left) is presenting the $6 billion Export Tower award to Lee Gyubok, CEO of Hyundai Glovis, at the 62nd Trade Day ceremony held on the 4th at COEX in Gangnam-gu, Seoul. Hyundai Glovis

The main export items are automobile parts. Hyundai Glovis sources auto parts from domestic and overseas partners and transports and sells them to overseas factories of finished vehicle manufacturers such as Hyundai Motor Company and Kia, ensuring smooth vehicle production. The company uses the KD (Knock Down) method, exporting automobile parts in units for assembly abroad.

Hyundai Glovis provides comprehensive KD logistics services, covering everything from parts ordering, packaging, and ocean forwarding, to inland transportation and storage of parts upon arrival at local ports. This contributes to improving the productivity of local factories.

The company operates 11 packaging centers in three regions in Korea: Asan in South Chungcheong Province, the Honam region, and Ulsan. Overseas, it runs 16 packaging centers across four regions: the Americas, Europe, China, and the Asia-Pacific.

Last year, based on domestic shipments, Hyundai Glovis supplied 57,683 FEUs of parts needed to produce 44 vehicle models at 17 finished vehicle production plants worldwide. One FEU refers to a single 12-meter container. Recently, the export volume of auto parts has increased due to the operation of Hyundai Motor Group Metaplant America (HMGMA) and inventory buildup in response to U.S. tariffs.

Used cars are also a key export item, mainly targeting Latin America, the Middle East, and the Commonwealth of Independent States (CIS). Through the used car export platform "Autobell Global," Hyundai Glovis serves as a transaction channel for domestic used car exporters who face difficulties in securing overseas buyer networks. Exporters can register vehicles on the platform, allowing importers to check vehicle information and request quotes in real time.

By utilizing its large fleet of Pure Car and Truck Carriers (PCTC), Hyundai Glovis can transport used cars, enabling importers to secure shipping schedules easily and ensuring reliable transportation.

As of the third quarter, the distribution business segment-which includes KD and used car exports-recorded sales of 10.6057 trillion won, accounting for about 48% of total sales, and operating profit of 443 billion won, representing about 28% of the total.

A Hyundai Glovis representative stated, "We were able to achieve export results by securing supply chain flexibility based on an organic and efficient transportation system," adding, "We plan to strengthen our export competitiveness by stabilizing the global supply chain and introducing advanced logistics technology."

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