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Hyundai Glovis / Wins two contracts worth 40 billion won for logistics automation system

Wins two contracts worth 40 billion won for logistics automation systems

Aiming for 20% market share in logistics automation by 2025

2024/05

Hyundai Glovis has signed a contract worth 40 billion won in the smart logistics solution business, which it is focusing on as a new food source for the future. After acquiring logistics automation software company Altiol last year, the company is gradually expanding its influence in the logistics automation market by winning one big contract after another in the smart logistics solution field.

Hyundai Glovis recently announced that it has signed a logistics automation system supply contract worth about 40 billion won with Korea Superfreeze Inc and EcoPro CnG to supply a smart logistics solution system. Smart logistics solution is to pursue optimal efficiency across customer logistics supply chain management (SCM) by applying various information and communication technologies (ICT) such as AI, big data, and robotics in the entire logistics process, including storage, transportation, and management of goods.

Hyundai Glovis was selected as an automation solution provider for Korea Superfreeze Inc, a cold chain specialist, to build Korea's largest frozen logistics center in Incheon. The company will supply smart logistics solution systems for the 8,000㎡ automated cold storage center, which is scheduled to begin construction next year and be completed in 2026.

The Korea Superfreeze Inc Cryogenic Incheon project is known for its technical challenges, requiring smooth logistics operations in a -30°C environment. Hyundai Glovis' strategy is to apply logistics automation equipment and software, such as stacker cranes, shuttles and sorters, and an automated center control system (WCS) for efficient logistics center operation, and to inject its logistics operation know-how to contribute to logistics efficiency and expanding corporate productivity.

In addition, Hyundai Glovis will build a logistics automation solution in the Blue Valley Industrial Complex in Pohang, Gyeongbuk, which is being built by EcoPro CnG, a battery recycling company under the Ecopro Group, which specializes in secondary batteries. To create a 1,022㎡ automated logistics center, we will introduce automation facility consulting, design and construction, WMS and WCS. In addition, we will supply an all-weather logistics automation solution that extends to future maintenance and management. Construction is scheduled to begin in the middle of this year and is expected to be completed by the end of the year.

The smart logistics solution market is growing rapidly. According to market research firm Interact Analytics, logistics centers are becoming more advanced in recent years, combining ICT and other technologies. The global logistics automation market is expected to grow from $43 billion in 2022 to $106.4 billion by 2030. Hyundai Glovis analyzes that the domestic market, currently valued at 800 billion won, will grow to over 1 trillion won by 2025. In response, Hyundai Globis will introduce customized services that combine the know-how of operating logistics centers directly for 20 years with related advanced technologies. It plans to provide optimal smart logistics solutions for customers' logistics environments by promoting digital transformation (DX) centered on software technologies such as optimization simulation algorithms, robotics, artificial intelligence, and digital twins.

In particular, it will aggressively expand orders by targeting six key industries, including distribution, consumer goods, secondary batteries, automobiles, bio, and petrochemicals. Through this, it aims to achieve a 20 percent market share of domestic logistics automation by 2025.

“We have advanced competitiveness in logistics consulting know-how and technological differentiation such as software and hardware that help reduce costs and improve productivity,” said an official from Hyundai Glovis. ”We plan to expand our influence in the logistics automation market by aggressively winning orders in targeted industries based on our technological capabilities.”