Hanjin "Overseas Business Sales Target 1 Trillion Won by 2025"

[Asia Economy Reporter Choi Dae-yeol] Hanjin CEO Noh Sam-seok personally visited and inspected seven business hubs in the Americas, including Los Angeles and Portland, for two weeks starting early last month, the company announced on the 4th. This trip was aimed at closely examining the core overseas bases of the company, which provides international transportation services such as forwarding and international express delivery, to focus on growth strategies.

The company has established a network with 11 overseas subsidiaries in the US, China, Europe, and Southeast Asia. With the expansion of the Incheon GDC infrastructure, last year's global business sales reached 375.5 billion KRW, an increase of more than 50% compared to the previous year (245.1 billion KRW). The company stated, "This achievement is even more meaningful as it was accomplished amid global crises such as COVID-19 and logistics disruptions," and added, "We expect the export growth trend to continue this year due to global economic recovery and increased infrastructure investments in major countries."

Anticipating continued business growth, the company also revealed its goal to achieve 1 trillion KRW in overseas business sales by 2025. They outlined specific business plans, including building a digital forwarding platform and strengthening international trade e-commerce logistics. The overseas subsidiaries will also be reinforced. The Americas subsidiary will enhance its C2C business by linking with IhaNex, a one-click overseas delivery agency platform. To support domestic companies' e-commerce sales in the US, the company expanded and relocated its warehouse in Los Angeles to a facility about twice as large.

Additionally, considering the emphasis on eco-friendly policies in China, the company plans to seek promising eco-friendly shippers and convert its Jakarta office into an Indonesian subsidiary, thereby expanding its global network. A company official said, "Despite the global economic crisis, the logistics market is expected to continue growing, so we will further expand our global network and concentrate our capabilities."

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