South Korea, 15 November 2022 – Lion Group of Malaysia and Hyundai Glovis Co., Ltd today signed a Memorandum of Understanding (MoU) for a strategic partnership for global business and smart logistics solutions in the South East Asian market.
Lion Director, Ms Serena Cheng signed on behalf of Lion Group while Hyundai Glovis was represented by its Vice President, Mr Park Man-su.
Under the MoU, the two organisations will collaborate to develop and upgrade the steel logistics business for Lion Group steel division’s sales and procurement business, and expand into the retail and heavy industrial logistics and business for other industries and global companies in Malaysia and South East Asia region.
Using their core competencies, both parties will jointly operate the third-party logistics (3PL) for customers, and collaborate to spearhead future businesses as well as diversify through introducing advanced logistics equipment and technologies. Lion Group which has operations in South East Asia and China will provide the necessary support and resources whilst Hyundai Glovis will provide optimised logistics services.
In her speech at the signing ceremony, Ms Serena Cheng said Lion Group is pleased to partner with Hyundai Glovis, a global logistics company on this new venture which will also introduce and implement future leading Smart Innovation Logistics technology such as 'Logistics Consulting', 'Total Logistics Solution Platform' and 'Green Logistics‘.
For further information, please contact Mr Tony Oh, Lion Group Chief Business Development Officer at tel no 03-2142 0155/2141 0999 or email tonyoh@lion.com.my
About Lion Group
Lion Group was established in the 1930s and today, has operations in Malaysia, China, Singapore, Vietnam, Hong Kong, Cambodia and Laos. It is involved in the retail, property development, mining, steel, agriculture and services sectors. Since 1992, the Group has ventured into China with operations in the retail and property businesses.
It has three companies listed on Bursa Malaysia with two in Singapore and one in Hong Kong. It has an annual group turnover of approximately RM 11.9 billion (US$ 2.9 billion) and provides employment for more than 11,000 people. For more info, please visit www.lion.com.my.
About Hyundai Glovis Co., Ltd
Hyundai Glovis is a logistics subsidiary of Hyundai Motor Group. The company was founded on 22 February 2001 and is headquartered in Seoul, South Korea. It has grown from a leading automotive logistics company to a global total logistics and distribution company that engages in the freight transport brokerage, agency and other supporting transport services. It operates through the following business areas: Logistics, Shipping and Complete Knock down (CKD), Used Car and New Growth. For more info, please visit www.glovis.net.