Hyundai Glovis, Hyundai Motor Group's logistics affiliate, said Wednesday that it has signed a memorandum of understanding with the Korea Ocean Business Corporation under the Ministry of Oceans and Fisheries to secure four pure car and truck carriers, or PCTCs, to bolster Korea's vehicle exports. The Korea Ocean Business Corporation will place the orders for the ships, which have the global top-class capability of loading 18,000 cars per ship and are expected to be delivered in 2027. In this photo, (from left) Lee Kyoo-bok, CEO of Hyundai Glovis, Kang Do-Hyung, minister of oceans and fisheries, and Kim Yang-soo, CEO of Korea Ocean Business Corporation, pose for a photo after signing the MOU at Hyundai Glovis' Pyeongtaek port in Gyeonggi Province on Tuesday. (Hyundai Glovis)