Hanjin
From Wikipedia, the free encyclopedia
| Hanjin |  |
|---|---|
| Hangul: |
한진
|
| Hanja: |
韓進
|
| Revised Romanization: | Hanjin |
| McCune-Reischauer: | Hanjin |
The Hanjin Group (KSE: 002320) is a Korean conglomerate, or Chaebol by Hanjin Group. 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 is the seventh largest container transportation and shipping company in the world.
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[edit] History
Hanjin began at the end of World War II, on 1 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 of 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 of 1969 Hanjin made its entry in the containerized shipping business signing a deal with Sea Land Service, Inc. It opened its first container yard less than a year later, in September of 1970, at the port of Pusan.
The late seventies saw a major push into the Middle East with contracts signed with Kuwait at the port of Shuwaik (September 1977), and Saudi Arabia at the port of Dammam (March 1979), and at the port of Jeddah (May 1980).
In March of 1990 the company branched out into trucking and warehousing with the purchase of Korea Freight Transport Company. Two years later, in June of 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 of 1992. In January of 1993 they initiated container rail service between Pusan and Uiwang. In May 1995 the company hauled grain to North Korea.
[edit] 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). [1] The Korea Herald even suggested that one of its three managing tycoons might be imprisoned after "prosecution on tax-evasion charges". Hanjin chairman Cho Yang-ho also stood trial for involvement in "illegal campaign funding" by paying minorities to do their work. [2]
[edit] Subsidiaries
- Hanjin Transportation
- Hanjin Travel Service
- Korean Air Lines
- KAL Catering
- Korea Airport Service
- Hanjin Shipping
- Hanjin Logistics
- Keoyang Shipping
- Hanjin Information System & Telecommunication
- TRAXON-Global Logistics System Korea
- TOPAS-Total Passenger Service System
- Cyber Logitec
- Hanjin Heavy Industries
- Korea Engineering Consultant
- Dongyang Fire & Marine Insurance
- Korean French Banking
- Inha University
- Inha University Hospital
- Hankuk Aviation University
- Hanil Country Club/Hanil Leisure
- Jeongseok Education Foundation
- Jeongseok Enterprise
- Senator Lines - Hanjin is the majority shareholder in Senator (1997).
[edit] See also
[edit] External links
- Company Main
- Group
- Hanjin Transportation
- Hanjin Travel Service
- Korean Air Lines
- Korea Airport Service
- Hanjin Shipping
- Hanjin Logistics
- Keoyang Shipping
- Hanjin Information System & Telecommunication
- TRAXON-Global Logistics System Korea
- TOPAS-Total Passenger Service System
- Cyber Logitec
- Hanjin Heavy Industries
- Korea Engineering Consultant
- Dongyang Fire & Marine Insurance
- Korean French Banking
- Inha University
- Inha University Hospital
- Hankuk Aviation University
- Hanil Country Club/Hanil Leisure
Hanjin • Korean Air • Hankook Airport Company • Hanjin Shipping • Hanjin Keoyang • Hanjin Tour Company • Hanjin Hyatt • KAL Hotel • KAL Limousine Service • Hanjin jeongseok • Hanjin Telecom • Hanjin Topas • Hanjin Cyber Logitec • Hanjin Cyber Sky • Hanjin Traxon • Inha University • Inha Technical Campus • Inha High School • Inha Middle School • Jeongseok Academy • Korea Airline University • Jeongseok Airline Technical High School • Inha Hospital • Korea Research Foundation
