(Photo=Hyundai Glovis)

 

[Alpha Biz= Reporter Kim Sangjin] On September 2nd, Hyundai Glovis announced that it is reviewing potential investor participation in the acquisition of Asiana Airlines' cargo division by Air Incheon. However, the company emphasized that no specific decisions have been made yet.

Hyundai Glovis is reportedly considering participating in a capital increase of Socius No. 5 Private Equity Fund, which currently holds an 80.3% stake in Air Incheon, as a means of supporting the acquisition. This move aligns with Hyundai Glovis's strategy of diversifying its business portfolio. During an Investor Day event in June, Hyundai Glovis CEO Lee Kyu-bok stated that the company would consider mergers and acquisitions if necessary for future growth.

In addition, Hyundai Glovis has been actively expanding its logistics capabilities, including the construction of a state-of-the-art Global Distribution Center (GDC) equipped with advanced automation facilities at Incheon International Airport's second logistics complex. The GDC is expected to be completed next year.

 

 

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