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  • Hyundai Glovis raises W50b to support partners, workers
    Hyundai Glovis raises W50b to support partners, workers
    Hyundai Glovis, the logistics unit under Hyundai Motor Group, created a fund worth 50 billion won ($44 million) to support its partner companies and workers, the company said Tuesday.Hyundai Glovis plans to spend 23 billion won to secure safety measure and the welfare of the workers in the logistics industry, while spending 20 billion won to financially support its small- and mid-sized partner companies. Participant...
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Hyundai Glovis raises W50b to support partners, workers

Oct. 24, 2017 - 15:51 By Korea Herald
Hyundai Glovis, the logistics unit under Hyundai Motor Group, created a fund worth 50 billion won ($44 million) to support its partner companies and workers, the company said Tuesday.

Hyundai Glovis plans to spend 23 billion won to secure safety measure and the welfare of the workers in the logistics industry, while spending 20 billion won to financially support its small- and mid-sized partner companies. 

Participants attend an event on Sept. 21 to celebrate Hyundai Glovis’ project to invest 50 billion won to support partner companies and workers. (Hyundai Glovis)

Meanwhile, Hyundai Glovis also plans to expand the Foundation of Korea Logistics Industry Promotion’s budget to 7 billion won by 2020, the company said.

The Foundation of Korea Logistics Industry Promotion is a nonprofit making corporations founded by Hyundai Glovis in 2013, to support small- and mid-sized logistics companies.

“Hyundai Glovis will try to promote various programs that can foster relationship with partnering companies, as well as workers,” said Hyundai Glovis CEO Kim Kyung-bae.
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