Hyundai Glovis CEO Lee Kyoo-bok has embarked on a strategic business tour across eight key European countries, aiming to revitalize growth in the company’s vital second-largest global market. As the dedicated logistics arm of Hyundai Motor Group, Hyundai Glovis is intensifying its focus on the burgeoning European market.
Industry sources confirmed Wednesday that CEO Lee initiated this extensive tour on Sunday, visiting Austria, the Czech Republic, Germany, Greece, the Netherlands, Poland, Slovakia, and Turkey. This comprehensive itinerary, set to conclude early next month, underscores Hyundai Glovis’s commitment to robust European market expansion.
This strategic decision to prioritize **European logistics growth** over the Americas — currently Hyundai Glovis’s highest revenue-generating region — highlights a concerted effort. The company aims not only to bolster its market presence in Europe but also to significantly expand its **cargo volumes** by securing new clients beyond its traditional affiliates like Hyundai Motor Company and Kia.
Notably, the Czech Republic and Slovakia serve as crucial operational hubs for **Hyundai Glovis’s European supply chain**, leveraging the presence of Hyundai and Kia’s vehicle manufacturing plants in these nations.
Hyundai Glovis offers a full spectrum of **automotive logistics services**, encompassing **vehicle transportation**, efficient **parts procurement**, and specialized **Completely Knocked-Down (CKD) logistics**. These CKD services are vital for shipping vehicle components for local assembly operations across the region.
While **North American operations** have largely fueled Hyundai Glovis’s recent expansion, its **European logistics segment** has experienced comparatively slower growth.
Last year, **Hyundai Glovis’s European logistics revenue** increased by a modest 0.61 percent year-on-year, reaching 1.49 trillion won (approximately $994 million). This contrasts sharply with a robust 7.9 percent growth in the Americas, where revenue hit 4.28 trillion won, highlighting the imperative for revitalized European performance.
Concurrently, the Asia-Pacific region saw its revenue climb 3.4 percent to 1.16 trillion won, further narrowing the financial gap with Europe to approximately 330 billion won, underscoring the competitive landscape for logistics providers.
Despite this measured growth, Europe maintains its position as a **strategically critical market** for Hyundai Motor Group’s rapidly expanding **electric vehicle (EV) exports**.
In fact, over 82.8 percent of Hyundai Motor Group’s EV sales in Europe last year originated from Korea, generating substantial demand for Hyundai Glovis’s specialized **EV logistics and shipping services**.
To vigorously accelerate **growth in the European market**, Hyundai Glovis is proactively seeking to expand its **non-affiliate cargo shipments**. This strategic move is particularly timely as Chinese automakers rapidly boost their presence within Europe’s burgeoning **eco-friendly vehicle market**.
Data from the European Automobile Manufacturers’ Association confirms a significant trend: imports of Chinese-made vehicles into the EU, predominantly **EVs and plug-in hybrids**, surged by an impressive 30.7 percent year-on-year last year, exceeding 1 million units. This creates a compelling opportunity for Hyundai Glovis to diversify its client portfolio and capitalize on the growing demand for **third-party automotive logistics**.
hyejin2
