Hanjin
Encyclopedia
The Hanjin Group is a South Korea
n conglomerate
, or Jaebeol. The group is a holding company that includes a shipping company, Hanjin Shipping
(including Hanjin Logistics), and Korean Air
(KAL), which was acquired in 1969. With its majority interest in the Senator Lines
, Hanjin-Senator
was the seventh largest container
transportation and shipping company in the world (operations ceased February 2009).
Hanjin started at the end of World War II
, in November 1945. Early on, its biggest customer was the U.S. Army, providing the transportation of material to both Korea and Vietnam
. The company signed a major contract with the US 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 with Sea-Land Service, Inc. In September 1970, the company opened its first container yard at the port of Busan
.
The late 1970s saw a major push into the Middle East
with contracts signed to Kuwait
at the port of Shuwaik (September 1977), Saudi Arabia
at the port of Dammam
(March 1979), and at the port of Jeddah (May 1980).
In March 1990, Hanjin branched out into trucking and warehousing with the purchase of Korea Freight Transport Company. In June 1992, Hanjin Express was introduced 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 and Uiwang
. In May 1995, Hanjin hauled grain to North Korea
.
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
n conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
, or Jaebeol. The group is a holding company that includes a shipping company, Hanjin Shipping
Hanjin Shipping
Hanjin Shipping, Global Shipping & Logistics CompanyHanjin Shipping is Korea's largest and one of the world’s top ten container carriers that operates some 60 liner and tramper services around the globe transporting over 100 million tons of cargo annually...
(including Hanjin Logistics), and Korean Air
Korean Air
Korean Air Lines Co., Ltd. , operating as Korean Air, is both the flag carrier and the largest airline of South Korea, with global headquarters located in Seoul, South Korea. Korean Air's international passenger division and related subsidiary cargo division together serve 130 cities in 45...
(KAL), which was acquired in 1969. With its majority interest in the Senator Lines
Senator Lines
Senator Lines was a German based container transportation and shipping company headquartered in Bremen. The company was formed in 1994 with the merger of DSR-Lines GmbH and Senator Linie GmbH & Co. KG ....
, Hanjin-Senator
Hanjin-Senator
Hanjin-Senator was achieved by combining the container fleets of Hanjin Shipping and Senator Lines, making Hanjin-Senator the eighth largest container shipping company in the world...
was the seventh largest container
Containerization
Containerization is a system of freight transport based on a range of steel intermodal containers...
transportation and shipping company in the world (operations ceased February 2009).
History
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, in November 1945. Early on, its biggest customer was the U.S. Army, providing the transportation of material to both Korea and Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
. The company signed a major contract with the US 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 with Sea-Land Service, Inc. In September 1970, the company opened its first container yard at the port of Busan
Busan
Busan , formerly spelled Pusan is South Korea's second largest metropolis after Seoul, with a population of around 3.6 million. The Metropolitan area population is 4,399,515 as of 2010. It is the largest port city in South Korea and the fifth largest port in the world...
.
The late 1970s saw a major push into the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
with contracts signed to Kuwait
Kuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
at the port of Shuwaik (September 1977), Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
at the port of Dammam
Dammam
Dammam is the capital of the Eastern Province of Saudi Arabia, the most oil-rich region in the world. The judicial and administrative bodies of the province and several government departments are located in the city. Dammam is the largest city in the Eastern Province and third largest in Saudi...
(March 1979), and at the port of Jeddah (May 1980).
In March 1990, Hanjin branched out into trucking and warehousing with the purchase of Korea Freight Transport Company. In June 1992, Hanjin Express was introduced to deliver small packages and provide courier service. The company started to load and unload cargo at the ports of Long Beach
Long Beach, California
Long Beach is a city situated in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the nation and the seventh-largest in California. As of 2010, its population was 462,257...
and Seattle with the joint venture Total Terminals Inc., in August 1992. In January 1993, they initiated container rail service between Pusan and Uiwang
Uiwang
Uiwang is a city in Gyeonggi Province, South Korea. It is one of many satellite cities that ring Seoul, making up the Seoul National Capital Area. Its largest immediate urban neighbor is Anyang...
. In May 1995, Hanjin hauled grain to North Korea
North Korea
The Democratic People’s Republic of Korea , , is a country in East Asia, occupying the northern half of the Korean Peninsula. Its capital and largest city is Pyongyang. The Korean Demilitarized Zone serves as the buffer zone between North Korea and South Korea...
.
Listed subsidiaries
- Korean Air Co.,LTD (KRX : 003490)
- Hanjin Shipping Co.,LTD (KRX : 000700)
- Hanjin Transportation Co.,LTD (KRX : 005430)
- Korea Airport Service Co.,LTD (KRX : 005430)
Other Subsidiaries
- JungSeok Enterprise Co.,Ltd
- Hanjin Travel Service Co.,Ltd
- Hanjin Transportation Co., Ltd
- Hanjin Information Systems & Telecomunication Co.,Ltd
- Total Passenger Service System Co.,Ltd
- Jin Air Co.,Ltd
- KAL Hotel Network Co.,Ltd
- Air Total Service Co.,Ltd
- CyberSky Co.,Ltd
- Global Logistics System Korea Co.,Ltd
- Homeo Theraphy
- Hanjin SM
- Cyber Logitec Co.,Ltd
- Inha UniversityInha UniversityInha University is a private, co-educational university located in Incheon, South Korea. It is owned by Hanjin Group.Inha University was established by the first president of South Korea, Syngman Rhee. It is a Korean-American collaboration school, even in its name: the Morpheme "In" comes from the...
- Korea Aviation University
- Inha University Hospital
- Jungseok Education Foundation
- Il Woo Foundation
- Uniconverse Co.,Ltd
See also
- Economy of South KoreaEconomy of South KoreaSouth Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity , identifying it as one of the G-20 major economies. It is a high-income developed country, with a developed market, and is a member of OECD...
- Hanjin ShippingHanjin ShippingHanjin Shipping, Global Shipping & Logistics CompanyHanjin Shipping is Korea's largest and one of the world’s top ten container carriers that operates some 60 liner and tramper services around the globe transporting over 100 million tons of cargo annually...
- Korean AirKorean AirKorean Air Lines Co., Ltd. , operating as Korean Air, is both the flag carrier and the largest airline of South Korea, with global headquarters located in Seoul, South Korea. Korean Air's international passenger division and related subsidiary cargo division together serve 130 cities in 45...