Corporate Logo(source: glovis.net)
On September 8, Meritz Securities raised its target price for Hyundai Glovis(086280), highlighting the company’s pivotal role in enhancing the corporate value of Hyundai Motor Group’s robotics subsidiary, Boston Dynamics.
In a report issued the same day, Jun-Sung Kim, an analyst at Meritz Securities, lifted the target price for Hyundai Glovis from 210,000 won to 250,000 won while maintaining a “Buy” recommendation.
Kim noted, “Hyundai Motor Group plans to launch smart cars in 2028, and the process of collecting mobility data has already begun to support the development of autonomous movement capabilities in physical AI robots.”
He added, “Beyond autonomous mobility, the next step will be developing a humanoid robot business model that combines a wide range of general-purpose labor capabilities. Boston Dynamics will be the central player driving this initiative.”
According to Kim, the funding required for Boston Dynamics’ development will not come from an IPO but rather through capital increases by existing shareholders, underscoring the importance of Hyundai Glovis, which holds an 11% stake.
He further explained, “Euisun Chung, the chairman and largest shareholder of Hyundai Glovis, received 55 billion won in dividends last year. These funds could be allocated toward Boston Dynamics’ capital increases, and the available resources are likely to expand further.”
Kim concluded, “Hyundai Glovis continues to deliver strong earnings and expand shareholder returns. With its growing financial capacity, expectations for Boston Dynamics’ growth are also increasing. The enhancement of corporate value at both Hyundai Glovis and Boston Dynamics will benefit both controlling and minority shareholders.”
*[KOSPI]Hyundai Glovis(086280) is an automobile specialized logistics company established in 2001 as part of the Hyundai Motor Group's logistics integration. Market capitalization is 13.942 trillion won(as of September 5, 2025, closing price).
Corporate Logo(source: glovis.net)
On September 8, Meritz Securities raised its target price for Hyundai Glovis(086280), highlighting the company’s pivotal role in enhancing the corporate value of Hyundai Motor Group’s robotics subsidiary, Boston Dynamics.
In a report issued the same day, Jun-Sung Kim, an analyst at Meritz Securities, lifted the target price for Hyundai Glovis from 210,000 won to 250,000 won while maintaining a “Buy” recommendation.
Kim noted, “Hyundai Motor Group plans to launch smart cars in 2028, and the process of collecting mobility data has already begun to support the development of autonomous movement capabilities in physical AI robots.”
He added, “Beyond autonomous mobility, the next step will be developing a humanoid robot business model that combines a wide range of general-purpose labor capabilities. Boston Dynamics will be the central player driving this initiative.”
According to Kim, the funding required for Boston Dynamics’ development will not come from an IPO but rather through capital increases by existing shareholders, underscoring the importance of Hyundai Glovis, which holds an 11% stake.
He further explained, “Euisun Chung, the chairman and largest shareholder of Hyundai Glovis, received 55 billion won in dividends last year. These funds could be allocated toward Boston Dynamics’ capital increases, and the available resources are likely to expand further.”
Kim concluded, “Hyundai Glovis continues to deliver strong earnings and expand shareholder returns. With its growing financial capacity, expectations for Boston Dynamics’ growth are also increasing. The enhancement of corporate value at both Hyundai Glovis and Boston Dynamics will benefit both controlling and minority shareholders.”
*[KOSPI]Hyundai Glovis(086280) is an automobile specialized logistics company established in 2001 as part of the Hyundai Motor Group's logistics integration. Market capitalization is 13.942 trillion won(as of September 5, 2025, closing price).