▲ This image is provided by Hyundai Glovis Co. (PHOTO NOT FOR SALE)(Yonhap)

 

SEOUL, Aug. 27 (Yonhap) -- Hyundai Glovis Co. is expanding its air forwarding business by transporting K-beauty and K-pop products overseas, while broadening its customer base beyond affiliates by handling high-value consumer goods such as artworks, the company said Thursday.

 

Hyundai Glovis said it provides air transportation services for cosmetics made by APR Co. and exported to Los Angeles, London and Amsterdam, as well as albums by SM Entertainment bound for Chicago and other U.S. destinations.

 

The company handles the entire logistics process, from cargo packing and customs clearance to shipment and delivery.

 

In the first half of this year alone, Hyundai Glovis signed transportation contracts covering hundreds of tons of APR cosmetics and SM Entertainment albums destined for North America and Europe.

 

According to Korea Customs Service data, South Korea's cosmetics exports to 58 European countries reached 2.31 trillion won (US$1.7 billion) in the first half of this year, nearly doubling in two years. K-pop album exports also rose 125 percent from a year earlier to a record 382.3 billion won during the same period.

 

With the air forwarding market expected to grow alongside the expansion of global e-commerce, Hyundai Glovis plans to further expand the business.

 

The company has recently expanded beyond ordinary consumer goods into artwork transportation. Last month, it transported artworks by British contemporary artist Damien Hirst to London.

 

Hyundai Glovis plans to strengthen its air forwarding capabilities based at its logistics center at Incheon International Airport.

 

In 2024, the company invested 260.6 billion won in a fund that acquired Asiana Airlines' cargo business from AirZeta, formerly Air Incheon, as part of efforts to strengthen its competitiveness in air logistics.

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