Hyundai Glovis Becomes Largest Shareholder In Air Incheon Backer

Hyundai Glovis, the South Korean logistics and transport affiliate of Hyundai Motor Group, has strengthened its commitment to the aviation cargo sector by increasing its investment in the Socius Korea Investment No. 1 Corporate Financial Stability Private Equity Partnership. The fund is the major backer of Air Incheon, which is in the process of acquiring Asiana Cargo. With this move, Hyundai Glovis has elevated its ownership stake from 34.9% to 45.2%, becoming the fund’s largest shareholder.