Hanjin to axe 400 staff in South Korea

Hanjin to axe 400 staff in South Korea

Hanjin Shipping will lay off about 400 land-based employees in South Korea as it fights for survival.

The news follows on from other redundancies around the world.

The shipping line filed for court receivership at the end of August becoming the largest containerline bankruptcy in history. It has since started to try and reposition itself for a future as an intra-Asia operator, Splash understands, ahead of presenting its rehabilitation plans to a court in Seoul in December.

Meanwhile, compatriot Hyundai Merchant Marine (HMM), which has already intimated it might bid for Hanjin’s transpacific operations, has also said it is looking at tabling a bid for Hanjin’s 25% stake in the Spanish terminal in Algeciras.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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