Glovis is Hyundai Motor’s logistics arm and it is growing faster than any competitor in South Korea. Kyobo Securities projects that the 10-year-old company will collect $16.3 billion in revenue this year. This year it makes the Fab 50 for the third time in row.

Glovis has offices in more than 40 countries. After establishing its expertise as a global provider of logistics services involving vehicle shipments, the company has reached into other industries: steel, machinery, heavy chemicals, energy, construction and consumer goods.

Glovis is working on expanding its third-party logistics business in both domestic and global markets. The company had focused on Hyundai Motor’s partners to secure new clients until last year, but it is widening its clientele to other automakers, including GM Korea, Honda, Volvo and Renault Samsung. “In the future, we will focus not only on logistics but also on distribution, resource development and recycling of resources,” says Vice President Kim Kyung-Bae.

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