Norma Group Posts Revenue Decline in 2025, Eyes Modest Recovery in 2026 
Trump's FY2027 Budget: Major Defense Boost and Domestic Spending Cuts 
Bank of Japan Eyes Further Rate Hikes Amid Middle East Tensions and Inflation Pressures 
Nike Beats Q3 Estimates but China Weakness and Margin Pressure Weigh on Outlook 
Oil Prices Hold Near Multi-Year Highs Amid Iran Conflict and Hormuz Supply Fears 
U.S. Job Market Braces for Slow Recovery Amid Middle East Tensions and Economic Uncertainty 
U.S. Stock Futures Steady Amid Iran Ceasefire Talks and Trump Address 
RBI Clamps Down on Rupee NDF Activity, Banks Face Steeper Losses 
Gold Prices Drop as Trump Escalates Iran Threats, Oil Surges 
First Western Ship Transits Strait of Hormuz Since Iran War Began 
OpenAI Executive Shake-Up Ahead of Anticipated 2026 IPO 
CTOC Adds 3,000 Doctors, 500 Hospitals Ahead of Liquidity Push 
Gulf War Ceasefire Hopes Weigh on Dollar Ahead of Trump Address 
Trump Administration Plans 100% Tariffs on Pharmaceutical Imports 
Trump Expands Tariffs on Pharmaceuticals and Metals One Year After Liberation Day 
Microsoft Eyes $7B Texas Energy Deal to Power AI Data Centers 
March 2025 Jobs Report: Strong Headline Numbers Hide Deeper Economic Concerns 
Hyundai Glovis has joined forces with the Lions Group to enter the flourishing logistics market in Malaysia. This is a strategic partnership that will help the South Korean logistics company expand its business in Southeast Asia.
As per The Korea Times, Hyundai Glovis is planning to bolster its presence in the Association of South East Asian Nations (ASEAN) territory thus, it has signed a memorandum of understanding (MOU) with the Malaysian logistics firm.
The signing ceremony was held at Hyundai Glovis' HQ in Seongdong, Seoul, on Tuesday, Nov. 15. Serena Cheng, the executive director of the Lion Group and managing director of Hyundai Glovis' smart innovation business unit, Park Man Soo, signed the MOU as representatives of the companies.
The Seoul headquartered company said that through the agreement, it would seek cooperation in smart logistics solution and global business. Moreover, Lion Group is also looking to raise the efficiency of its logistics operations through this collaboration.
The Malaysian conglomerate has successfully broadened its business scope and has gone beyond logistics. It now operates a wide range of businesses that include real estate development, distribution, steel, and agriculture. Its annual sales in 2021 reached $3 billion or around KRW3.97 trillion.
Lion Group is operating in over 10 countries worldwide and has businesses in the United States, China, and other Southeast Asian nations. With its broad market reach, the MOU is definitely beneficial to Hyundai Glovis.
In any case, the two sides agreed to start their collaboration in the steel business, with Hyundai Glovis carrying out logistics consultations in early 2023, The Korea Herald reported. Later on, Hyundai will introduce smart logistics solutions to distribution areas where Lion Group is operating.
"We will use this project as an important opportunity to strengthen global competitiveness in Malaysia, the logistics hub of Southeast Asia," an official at Hyundai Glovis said in a statement. "We will also actively seek ways to create synergy with nearby ASEAN countries such as Vietnam and Thailand, where Hyundai Glovis already operates."
