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S. Korea to Accelerate Restructuring of Shaky Industries in 2017

S. Korea to Accelerate Restructuring of Shaky Industries in 2017

SEJONG, Jan. 25 (Korea Bizwire) – South Korea will accelerate its corporate restructuring drive in shaky industries like shipbuilding and steelmaking in 2017 in a bid to gain a foothold for the future industrial revolution, the government said Wednesday.  At a ministerial-level meeting in Seoul chaired by Finance Minister Yoo Il-ho, the government reviewed action [...]

Int’l Air Cargo at Incheon Airport Reaches Record High in 2016

Int’l Air Cargo at Incheon Airport Reaches Record High in 2016

SEOUL, Jan. 3 (Korea Bizwire) – International air cargo shipped to and from South Korea via its Incheon International Airport climbed to a new annual high in 2016, despite a significant drop in the country’s overall imports and exports, the government said Tuesday.  The amount of international cargo processed at the Incheon airport, the main [...]

Shipping Alliance Reshuffle Puts Burden on Korea’s Largest Port

Shipping Alliance Reshuffle Puts Burden on Korea’s Largest Port

BUSAN, Dec. 23 (Korea Bizwire) – A recent analysis has forecasted that the reshuffling of global container shipping alliances planned for April 2017 will lead to an additional drop in the volume of transshipment cargo at the Port of Busan – Korea’s largest port – adding to its troubles stemming from the Hanjin Shipping crisis. [...]

Liquidation Preferred over Rehabilitation for Hanjin Shipping: Report

Liquidation Preferred over Rehabilitation for Hanjin Shipping: Report

SEOUL, Dec. 13 (Korea Bizwire) – An accounting firm assessing the viability of cash-strapped Hanjin Shipping Co. on Tuesday reported to a local court that the liquidation of the troubled shipper is “more economical,” rather than continuing its rehabilitation scheme.  Hanjin Shipping, once the country’s leading shipping company, was put under court receivership in September, [...]

Hyundai Merchant Gets Boost From Strategic Partnership With Shipping Alliance

Hyundai Merchant Gets Boost From Strategic Partnership With Shipping Alliance

SEOUL, Dec. 12 (Korea Bizwire) – Stocks of Hyundai Merchant Marine Co. traded higher on the Seoul bourse Monday, rebounding from the previous session’s 6 percent drop, after it agreed to a “limited partnership” with the world’s largest shipping alliance.  Hyundai Merchant changed hands at 7,060 won as of 10:30 a.m., up 2.17 percent from [...]

Hyundai Merchant in Final Talks to Join Major Shipping Alliance

Hyundai Merchant in Final Talks to Join Major Shipping Alliance

SEOUL, Dec. 7 (Korea Bizwire) – Hyundai Merchant Marine Co., a major shipping line here, has started its final talks to join a global shipping alliance to survive the cutthroat competition in the global shipping sector.  According to the sources, the shipper’s negotiation team began the talks in Copenhagen with 2M Alliance, the world’s largest [...]

Hyundai Merchant to Ink Deal on 2M Alliance This Month: Regulator

Hyundai Merchant to Ink Deal on 2M Alliance This Month: Regulator

SEOUL, Dec. 1 (Korea Bizwire) – Hyundai Merchant Marine Co., a leading shipping line in South Korea, is expected to strike a deal this month to join the world’s largest container-shipping alliance, the country’s top financial regulator said Thursday, dismissing reports of trouble in last-minute talks.  “Negotiations are likely to be completed around Dec. 10,” [...]