Hyundai Glovis seeks to expand vehicle logistics operations at Philadelphia port

By Chang Dong-woo

WASHINGTON, Oct. 19 (Yonhap) -- Hyundai Glovis Co., the logistics unit of South Korea's Hyundai Motor Group, said Monday it is seeking to expand its vehicle logistics operations at the Port of Philadelphia in the United States, including developing new facilities and entering the automobile terminal operating business.

The company said it recently signed a memorandum of understanding (MOU) with PhilaPort, the Pennsylvania port authority, and a local developer to cooperate on the port's expansion project, which includes developing automobile and container terminals.

Under the agreement, Hyundai Glovis plans to secure a new berth dedicated to car carriers, develop additional vehicle storage facilities and extend its existing land lease at the port through 2056.

The company was introduced as a key private-sector partner in the port expansion project during an announcement ceremony held last Tuesday, which was attended by Pennsylvania Gov. Josh Shapiro and state and port officials.

Hyundai Glovis, which has operated vehicle import and export logistics services at the port since 2010, currently manages approximately 1 million square meters of vehicle logistics space with storage capacity for 33,600 vehicles.

Once the planned expansion is completed, the company's operating area is expected to increase to approximately 1.12 million square meters, with storage capacity rising to 37,600 vehicles.

The company said it aims to strengthen its North American logistics competitiveness by integrating maritime transportation, terminal operations, vehicle storage and inland transportation, while expanding into heavy equipment and project cargo logistics.

Hyundai Glovis also plans to further develop Philadelphia as a key logistics hub on the U.S. East Coast, building on its role as an alternative gateway when operations at the Port of Baltimore were disrupted following the collapse of the Francis Scott Key Bridge in 2024.

odissy@yna.co.kr
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