- Hanjin
Infobox Korean name
caption=The logo of Hanjin
hangul=한진
hanja=韓進
rr=Hanjin
mr=HanjinThe Hanjin Group is aKorea n conglomerate, or "Chaebol ". The group is a holding company that includes a shipping company,Hanjin Shipping (includingHanjin Logistics ), andKorean Air (KAL), which was acquired in 1969. With its majority interest in theSenator Lines Hanjin-Senator is the seventh largest container transportation and shipping company in the world.History
Hanjin began at the end of
World War II , on1 November 1945 . Early on its biggest customer was theU.S. Army , providing the transportation of material to both Korea andVietnam . The company signed a major contract with theUS 8th Army in November 1956, and another contract in March 1966, with all of the U.S. armed forces in Vietnam, including the Army, Navy, and Air Force. In November 1969, Hanjin made its entry into the containerized shipping business signing a deal withSea Land Service, Inc . It opened its first container yard less than a year later, in September 1970, at the port ofPusan .The late seventies saw a major push into the
Middle East with contracts signed withKuwait at the port ofShuwaik (September 1977),Saudi Arabia at the port ofDammam (March 1979), and at the port of Jeddah (May 1980).In March 1990 the company branched out into trucking and warehousing with the purchase of Korea Freight Transport Company. Two years later, in June 1992, the company started Hanjin Express to deliver small packages and provide courier service. The company started to load and unload cargo at the ports of Long Beach and
Seattle with the joint venture Total Terminals Inc., in August 1992. In January 1993 they initiated container rail service between Pusan andUiwang . In May 1995 the company hauled grain toNorth Korea .2007 San Francisco Bay oil spill
"Main Article:
2007 San Francisco Bay oil spill "On November 7, 2007 a Hanjin container
ship crashed into the base of theBay Bridge and spilled an estimated 58,000 gallons of fuel from the ship's fuel tanks [http://www.dailycal.org/article/26825/_i_news_i_br_berkeley_marina_closed_after_oil_spil Berkeley Marina Closed After Oil Spill.] Eric Boylan.the Daily Californian .] , creating the2007 San Francisco Bay oil spill , the largest oil spillSan Francisco has seen in over 11 years. [ [http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/11/11/MNFSTA5L9.DTL Bay cleanup efforts expanding] . Jane Kay.San Francisco Chronicle .]Tax litigation
In 1999, Hanjin Group paid the largest penalty tax ever levied in Korea to that time; 541.6 billion won ($445.8 million). [ [http://findarticles.com/p/articles/mi_m0WDP/is_1999_Oct_11/ai_56228715 Hanjin group to pay 450 mil. dlrs in penalty tax.] Asian Economic News, Oct 11, 1999] The "
Korea Herald " even suggested that one of its three managing tycoons might be imprisoned after "prosecution on tax-evasion charges". Hanjin chairmanCho Yangho also stood trial for involvement in "illegal campaign funding" by paying minorities to do their work.Listed Subsidiaries
* Hanjin Heavy Industries & Construction (kse|003480)
*Hanjin Shipping (kse|000700)
* Hanjin Transportation (kse|002320)
* Korea Airport Service (kse|005430)
*Korean Air (kse|003490)
* Meritz Investment Bank (kse|012420)ubsidiaries
* Cyber Logitec
* Meritz Fire & Marine Insurance
* Hanil Country Club/Hanil Leisure
* Hanjin Information System & Telecommunication
* Hanjin Logistics
* Hanjin Travel Service
* Hankuk Aviation University
*Inha University
* Inha University Hospital
* Jeongseok Education Foundation
* Jeongseok Enterprise
*Jin Air
*KAL Catering
* Keoyang Shipping
* Korea Engineering Consultant
* Korean French Banking
*Senator Lines
* TOPAS-Total Passenger Service System
* TRAXON-Global Logistics System Koreaee also
*
Economy of South Korea
*Hanjin Shipping
*Hanjin Heavy Industries
*Korean Air References
External links
* [http://www.hanjin.co.kr/ Hanjin home page] ko icon
* [http://www.hanjin.co.kr/English_html/index.jsp Hanjin home page] en icon
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