Hanjin Hits Chinese Logistics Market
Accelerates to be a Leading Global Logistics Firm

Korea's logistics mogul Hanjin has established its first Chinese corporation in Qingdao. It aims to be the world best logistics company by constructing perfect air, ocean and land logistics networks in China.
The Name of this corporation, capitalized on $2.44 million, is "Qingdao Hanjin Ocean Land International Logistics Co., Ltd." Hanjin owns 75 percent of the corporation.
With one corporation set in Hong Kong by Korean Air, one of the group's major affiliates and nine corporations in Shanghai by Hanjin Shipping, this local corporation dedicated to land conveyance lets Hanjin Group to accomplish an integrated logistics network covers air, ocean and land in China. The business of Qingdao corporation covers Ocean Freight Forwarding, Storage, Packing and Custom Clearance, and will be gradually extended to include Overland Transportation, Rail Transportation, Brokerage and Third Party Logistics.
In the opening ceremony held in Haecheon Hotel, Qingdao on September 2, Cho Yang-ho, chairman of Hanjin Group, Lee Won-young, president of Hanjin Transportation Co., Soon Showpu, deputy mayor of Shandong, Hu Shaojun , deputy mayor of Qingdao Municipal Government and about 150 more people joined.
"I believe Hanjin's new local corporation will enhance the value of customers with its advanced logistics service, contributing to elevate the standard of logistics industry in Qingdao"said President Cho in his speech.
As for Hanjin Transportation Co., 2005 is an epoch making year when it commences to penetrate into Chinese market. The company has already organized three business offices in Shanghai, Dalian and Weihai, and plans to expand its transport networks by building about ten more branches in various regions in China, such as Tianjin, within next three years.
With its goal to be a world's leading logistics group, Hanjin Group is aiming at China market which is expected to swell with 2008 Beijing Olympics serving as a momentum.
The company's estimates of sales in China in 2010 have been set at 6,400 billion won while its sales in China in 2004 were 2 trillion won.
Also its representative affiliate, Korean Air is active in joining hands with major Chinese airlines including China Southern Airlines in an attempt to enlarge its local business and fortify its competitiveness. It plans to add 16 more routes by 2014 and raise the sales in China market from last year? 400 billion won to about 2 trillion won. It has concluded a LOI (Letter of Intention) with Aokai Airlines, China? first private airline based in Tianjin, which is dedicated to domestic passenger transport and has started service this February.
Not only in China, Hanjin Group is keen to reinforce its logistics networks globally by building bases in the Americas, Europe, Japan and Southeast Asia. nw

Hu Shaojun (right), deputy mayor of Qingdao, and Cho Yang-ho (third from right), chairman of Hanjin Group and KAL chairman, participate in a ceremony for opening Hanjin? first Chinese logistics corporation.