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Hyundai Glovis signed a share purchase agreement with Eusu Ship Management Co., Ltd.

2017.08.31

On July 14, Hyundai Glovis signed a share purchase agreement with Eusu Ship Management Co., Ltd. to acquire 100% of its shares for KRW 11 billion for its enhancement of shipping business. Thanks to the acquisition of Eusu SM, Hyundai Glovis has been able to improve the quality of its shipping business focusing on its completed vehicles and bulk marine transportation services. And In addition, Hyundai Glovis has been able to operate its fleet more professionally and efficiently, which will contribute to consolidating service capacity and increasing profitability.Eusu Ship Management Co., Ltd., established in 2006, is a company specialized in ship management that serves management of ship’s equipment & sailing, training of sailors, audit for new ships and supplement of ships’ equipment. Eusu Ship Management Co., Ltd will be operated independently after the acquisition, and follow-up measures will be taken step by step. Hyundai Glovis plans to continue to increase its shipping expertise and become a global shipping company.

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