Hyundai Movex hits W300b in overseas orders this year


Hyundai Movex, a logistics solution provider, has secured approximately 300 billion won ($215 million) in overseas orders this year, indicating strong potential for future growth in global business. On June 18, the company signed a contract with Australia's Sydney Metro to install platform screen doors and mechanical gap fillers, increasing the total order value to 77.5 billion won from the previous 35.7 billion won contract signed in December 2022. This project involves the installation of 360 screen doors and 170 safety boards across 10 routes in Sydney's Southwest lane, aiming to enhance passenger safety and convenience. Furthermore, Hyundai Movex has been successful in securing significant orders in North America, particularly in the new secondary battery business. With a smart logistics order in Canada and a selection as an automation solution provider in Tennessee, the company's performance is seeing a boost. Last year, Hyundai Movex exceeded 400 billion won in annual orders, and this year, by June, it has already surpassed 300 billion won. The company is optimistic about the prospects of its global expansion efforts, especially in the new secondary battery business, and anticipates improved earnings and balanced performance across various industries. Hyundai Movex, a key affiliate of Hyundai Group alongside Hyundai Elevator, focuses on smart logistics, IT services, and platform screen doors as part of its solutions business.


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