Philadelphia:Hyundai Glovis Co., the logistics unit of South Korea's Hyundai Motor Group, announced its intention to expand vehicle logistics operations at the Port of Philadelphia. The expansion plan includes developing new facilities and entering the automobile terminal operating business.

According to Yonhap News Agency, the company recently signed a memorandum of understanding (MOU) with PhilaPort, the Pennsylvania port authority, and a local developer. The agreement includes a port expansion project aimed at developing automobile and container terminals.

Under the terms of the agreement, Hyundai Glovis plans to secure a new berth dedicated to car carriers, develop additional vehicle storage facilities, and extend its existing land lease at the port through 2056. The company was identified as a key private-sector partner in the expansion project during an announcement ceremony attended by Pennsylvania Gov. Josh Shapiro and other state and port officials.

Hyundai Glovis has been operating vehicle import and export logistics services at the port since 2010 and currently manages about 1 million square meters of vehicle logistics space, with a storage capacity for 33,600 vehicles. The planned expansion is expected to increase the operating area to approximately 1.12 million square meters, with storage capacity rising to 37,600 vehicles.

The company aims to enhance its North American logistics competitiveness through the integration of maritime transportation, terminal operations, vehicle storage, and inland transportation. Additionally, Hyundai Glovis intends to expand its services into heavy equipment and project cargo logistics, further developing Philadelphia as a key logistics hub on the U.S. East Coast. This strategy builds on its role as an alternative gateway when operations at the Port of Baltimore were disrupted following the collapse of the Francis Scott Key Bridge in 2024.