SEOUL, Dec. 30 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, announced on Wednesday that it will establish a railroad transport unit in the southwestern Chinese city of Chengdu as part of efforts to expand its logistics operations between China and Europe.
The company said that a new corporate entity, Chengdu Glovis SCM, was established to make use of express freight trains from China’s state-run railway operator, secure a logistics base for the import and export of finished vehicles in inland China, and expand storage and delivery services.
This is the first time for a Korean logistics company to set up an independent unit to offer railroad logistics services in China.
Europe-bound Trans China Railway (TCR) shipments from Chengdu increased to 123,000 forty-foot equivalent unit (FEUs) in 2020 from 82,000 FEUs in 2019.
Through a direct contract with China’s state-run railroad operator, Hyundai Glovis plans to take part in the operation of express freight trains departing from Chengdu, while promoting sales activities targeting major shippers around the world.
The main targets include container cargo moving between Europe and China, among others, and electronics and semiconductors.
Kevin Lee (firstname.lastname@example.org)