SEOUL -- Hyundai Glovis, the logistics wing of South Korea's Hyundai auto group, established a strategic partnership with Lion Group and agreed to realize logistics upgrading for the Malaysian steel group by implementing a new computer operating system for integrated transportation management.
Under a memorandum of understanding, Hyundai Glovis said it would start providing logistics consulting in early 2023 to diagnose the status of Lion Group's steel logistics and find improvements. They would jointly promote logistics operations for large global companies operating in Malaysia and introduce smart logistics solutions in the distribution area where Lion Group shows strength.
Hyundai Glovis thinks Malaysia will provide an important opportunity to strengthen its global business competitiveness, citing its great potential as a logistics hub in Southeast Asia. The two companies would collaborate on entering other Southeast Asian countries.
"We will use it as an important opportunity to strengthen our global business competitiveness in Malaysia, which has great potential as a logistics hub in Southeast Asia," an unnamed Hyundai Glovis official said in a statement on November 16. "We will also actively seek ways to create synergy with nearby ASEAN countries such as Vietnam and Thailand."
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