SEOUL, Jan. 28 (Korea Bizwire) — Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, has added air cargo to its business portfolio, establishing a strategic base of operations in Germany.
The company announced on Wednesday that it recently opened a branch for a new air freight forwarding division at Frankfurt Airport.
This move is a part of the company’s efforts to speed up the diversification of its business portfolio by expanding its business coverage from land and seaborne logistics services towards air freight services.
Frankfurt Airport is Europe’s largest air freight transport hub, handling about 2 million tons of air cargo per year.
For Hyundai Glovis, the airport is strategically important to expand its air cargo business in the European market.
The company’s air freight forwarding business will start with ex-Europe, South Korea-bound cargo that will be processed six times a week in the initial stages of operations.
Hyundai Glovis plans to further expand its air cargo service areas to the Americas and Asia-Pacific regions by the end of this year.
Kevin Lee ([email protected])