Hanjin

The Hanjin Group (Hangul: 한진 그룹; hanja: 韓進 그룹; RR: Hanjin Geulub) is a South Korean conglomerate, or Chaebol. 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).

History

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.