Hanjin Archives | Be Korea-savvy
S. Korea Losing Port Calls After Hanjin Shipping’s Bankruptcy

S. Korea Losing Port Calls After Hanjin Shipping’s Bankruptcy

BUSAN, April 21 (Korea Bizwire) – Global shipping companies have reduced their calls at South Korean ports despite adding more worldwide services, partly a result of Hanjin Shipping going bankrupt, a research organization said Friday. Four different shipping alliances have been realigned into three major players — 2M, The Alliance and Ocean Alliance — in [...]

Foreign Operators Benefit From Hanjin’s Fall at Busan Port

Foreign Operators Benefit From Hanjin’s Fall at Busan Port

SEOUL, Apr. 11 (Korea Bizwire) — Since last year’s fall of Hanjin, one of South Korea’s largest shipping companies, the New Port of Busan, which is mostly managed by foreign operators, has reported profit and revenue gains, according to recent business reports. An accounting report released yesterday by DP World revealed the Dubai-based port operating [...]

Foreign Shippers Gain Market Shares after Bankruptcy of Hanjin Shipping

Foreign Shippers Gain Market Shares after Bankruptcy of Hanjin Shipping

BUSAN, Nov. 30 (Korea Bizwire) – Foreign shippers have increased their market shares in major global shipping routes following the bankruptcy of Hanjin Shipping Co., defying expectations that its Korean peer Hyundai Merchant Marine Co. would secure a chunk of Hanjin’s share, data showed Wednesday.  Hanjin accounted for 7.78 percent of the Asia-U.S. shipping route [...]

Government to Bolster Support Packages for Hanjin’s Refugees at Sea

Government to Bolster Support Packages for Hanjin’s Refugees at Sea

SEJONG, Sept. 26 (Korea Bizwire) – The Korean government decided Sunday to reinforce its supply of support packages (food and daily necessities) to Hanjin Shipping employees still stranded at sea following the bankruptcy of the shipping giant.  As of Sunday, there were 59 Hanjin-owned vessels at sea, with 518 Korean and 720 overseas employees on [...]

Hanjin Chairman Ready to Personally Pay 40 Bln Won to Ailing Shipping Unit

Hanjin Chairman Ready to Personally Pay 40 Bln Won to Ailing Shipping Unit

SEOUL, Sept. 13 (Korea Bizwire) – The chief of Hanjin Group, the parent for ailing shipper Hanjin Shipping Co., has borrowed 40 billion won (US$36 million) from banks in order to help the group’s cash-strapped shipping line, sources said Tuesday.  Cho Yang-ho, chairman of the logistics conglomerate, has pledged to provide some of his private [...]

Creditors Unlikely to Extend New Financing to Hanjin Shipping

Creditors Unlikely to Extend New Financing to Hanjin Shipping

SEOUL, Sept. 8 (Korea Bizwire) – Creditors of cash-strapped Hanjin Shipping Co. are unlikely to provide fresh financial aid to the ailing shipper currently under court receivership, industry sources said Thursday, further worsening the outlook for its already crippled cargo shipment.  According to the sources, the state-run Korea Development Bank, the main creditor for Hanjin, [...]