Hanjin Shipping : to cut 400 land-based jobs in South Korea

HANJIN SHIPPING CO., LTD. is a Korea-based company engaged in the marine transportation business. It offers container service, bulk service, terminal service and third party logistics (3PL) service. Its container service provides transportation of reefer cargoes, dangerous cargoes, over-sized cargoes, industrial equipment and others. Its bulk service provides transportation of iron ores, coals, general merchandise, liquefied natural gas (LNG) and oil products. Its terminal service provides logistics services. Its 3PL service includes freight forwarding services, contract logistics and others. The Company also offers ship repair yard services. On March 7, 2014, it sold a 100% stake in HJLK, and acquired 100% stake in HSM. On March 21, 2014, it sold its entire shares of KT Submarine Co., Ltd. On July 1, 2014, it raised its interest to 92.5% from 5% by acquiring a further interests in H-Line Shipping Co Ltd.