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Chaebol Rankings Seesaw Over Two Decades

Chaebol Rankings Seesaw Over Two Decades

SEOUL, Nov. 1 (Korea Bizwire) — Nearly two-thirds of South Korea’s top 30 conglomerates have been dissolved or dropped out of the standings since the 1997 Asian financial crisis, a market tracker said Wednesday. According to corporate tracker CEO Score, 19 family-controlled conglomerates, called chaebol here, disappeared altogether from the list with the remainder maintaining [...]

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 [...]