A Force in World
Container Shipping

Hanjin Shipping pursues strategies to further expand its dominance

Hanjin Shipping Co. operates over 140 cargo ships across its global network including containers, bulk carriers, and LNG carriers with total dead weight tons exceeding 8 million tons. Its worldwide shipping network includes over 60 regular and irregular lanes, carrying over more than 100 million tons of cargo.
The company is the largest shipping company in Korea with more than 5 trillion won in assets and 6 trillion won in sales revenue annually.
The shipping company is an affiliate of the Hanjin Group and it has a number of its own subsidiaries including Germany's Senator Line, Cyber Logic and Pyongtaek Container Terminal Co. set up in 2004 to operate its cargo terminal in Pyeongtaek, Gyeonggi Province, not far from Seoul.
With the shipping company drawing some 90 percent of its revenue from overseas operations, it has 5 regional offices, some 200 branches and 20 wholly-owned local subsidiaries in foreign countries.
In addition, the company has its own terminals in 11 key locations in the world,
including one in Long Beach, California, with a total space of 460,000 best, Tokyo, Kaoshiung, and Busan and 6 inland logistics centers in such locations as Shanghai, and Qingdao. The company plans to open an exclusive terminal in the new Busan Harbor with a total space of 200,000 best in 2009.
Hanjin Shipping pioneered to open the sea lanes for Korean ships following its founding ideal of "Serving the Nation through Transportation,"sparing no effort for providing a perfect transportation service. As a result, the company won the best shipping company award from the Global Shippers Association in 2003 and the best shipping company award also from Fred Meyer, one of the largest wholesalers in the United States in 2004. In the following year, the company was named one of the top 50 companies in Asia by Forbes, a popular U.S. business monthly magazine. It also won the best shipping service award from Owens Corning for three years in a row in addition to the best partner awards from Target Store and Best Buy, and the recognition for its excellent service from many other customers.
Hanjin Shipping posted 5.9 trillion won in sales, 570 billion won in operating profit, 480 billion won in net profit in 2005 and paid dividends for 7 years in a row. This year, the company plans to chalk up $6.5 billion in sales, and $547 million in operating profit.
Since 2003, Hanjin formed the CKYHS Alliance, the largest strategic shipping alliance in the world together with Senator, K-Line, Yangming Line of Taiwan and Coscon Line of China, securing diversified shipping schedules and providing express services, to sharpen its competitive edge by reducing costs through joint share of cargo bays, among members of the alliance.
Hanjin led the alliance to go a step further and expanded joint feeder lines and plans to build joint terminals in Asia, the Americas, and across Europe. The company plans to do all it can to be the most trustworthy shipping firm in the world through continuous expansion of its fleet and rational operation, strengthening its core capabilities such as increases in the number of exclusive terminals and container and bulk carrier businesses. An additional part of the plan is the expansion of third-person logistics operation and early stabilization and diversification of related operations including the construction and operation of repair docks.
Hanjin Shipping traces its beginning to the Korea Shipping Corp. set up in 1950 and Hanjin Group acquired the shipping firm in 1977 and named it Hanjin Shipping which was merged with Daihan Commercial Shipping in 1988. In 1995, the company acquired Koeyang Shipping followed by takeover of Senator Line of Germany in 1997.
The company ranked 7th in sales in the world and 8th in shipping tonnages with 329,000 TEU. In 2005, the company's share in the Asia-Americas route posted 7.6 percent, the 3rd in the world. The number of total employees stood at 3,908 at the end of July with 1,046 of them serving aboard ships and the rest on land. It was the biggest shipping firm in the country in terms of sales with 5.98 trillion won in 2005 compared to Hyundai Merchant Shipping's 4.85 trillion won. nw

Hanjin Shipping Co. President Park Jong-won.

A Hanjin Shipping container vessel.