South Korea’s Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, has added air cargo business to its portfolio by opening air freight forwarding business in Germany, the gateway to other parts of Europe.
The company said Wednesday it recently opened a branch for air freight forwarding business at Frankfurt Airport in Germany in a bid to broaden its air transport business scope. The airport handles 2 million tons of air cargo per year as a hub for Europe’s air freight transport.
An air freight forwarder deals with overall procedures of cargo delivery by air from one point to another on behalf of clients.
An official Hyundai Glovis said Frankfurt Airport is strategically important to expand its air cargo business in the European market. It will carry out shipping for multinational companies in a variety of industrial sectors including auto part makers, high-tech component suppliers, e-commerce platforms and consumer goods providers.
It will process freights sent from Europe to South Korea six times a week in its initial stage and further expand areas to the Americas and Asia-Pacific region within this year. It will negotiate business cooperation with companies handling air cargo at Hartsfield-Jackson Atlanta Airport in the U.S. in the first half, and enter the Southeast Asian market in the latter half.
Market experts considered the new business as the company’s preemptive move to pre-dominate shipping of Covid-19 medical supplies and vaccines that need cold-chain storages as well as to prepare a possible surge in global trade in the wake of the anticipated recovery of the global economy in the post Covid-19 era.
“The share of air freight in the entire logistics market is growing amid rapid change in industrial landscape,” said an official from the company. “We will work hard to provide comprehensive shipping solution that meets the needs of clients by utilizing our strength in land and marine shipping to rapidly improve air cargo capacity.”
By Pulse
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]
