Targeting Cold Chain Market in Southeast Asia
Hyundai Glovis is seeking to establish a complex logistics center in Ho Chi Minh City, Vietnam's largest city.
The company said on Jan. 14 that it has signed a memorandum of understanding with Ulsan Port Authority to promote the project.
Under the agreement, the two companies will build a complex logistics center behind Ho Chi Minh Port in Vietnam and start its full-scale operations in 2022 at the earliest. They are seeking to enter the cold chain market in Southeast Asia as low-temperature distribution systems are necessary for food and medicine transportation in this region.
Both companies are planning to use the complex logistics center as a logistics base for automotive parts, while using it for other logistics services at the same time. They will also provide comprehensive logistics services to small and medium-sized companies in various fields such as textile, food and electronics, helping them make a foray into the Vietnamese market.