Hyundai Glovis plans Philadelphia port expansion, vehicle terminal operations
Hyundai Glovis plans to extend its dedicated site agreement at the Port of Philadelphia through 2056 and enter the vehicle terminal operations business, expanding its role at the key logistics hub on the east coast of the United States. The Korean company said Monday that it had signed a memorandum of understanding with the Philadelphia Regional Port Authority, known as PhilaPort, and a local…
Hyundai Glovis, the South Korean logistics giant, is set to expand its presence at the Port of Philadelphia through 2056. The company has entered into a memorandum of understanding with the Philadelphia Regional Port Authority, also known as PhilaPort, and a local developer to jointly develop the port and launch a vehicle terminal operation business.
The agreement includes securing additional space for vehicle logistics and expanding the existing site at the port. Hyundai Glovis plans to take part in PhilaPort's broader expansion efforts by securing a dedicated berth for car carriers and adding terminal operations to its current transport and storage services.
The announcement of the expansion was attended by Pennsylvania Governor Josh Shapiro and various state and port officials. Hyundai Glovis was recognized as a significant private-sector partner during the event, which highlighted plans for both container and vehicle terminals. The Korean company has already been involved in vehicle import and export operations at the port.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
