Hanjin Q2 Operating Profit 33.7 Billion Won... "Maintaining Stable Growth"

Hanjin announced on the 12th that its consolidated operating profit for the second quarter reached 33.7 billion KRW, a 3.4% increase compared to the same period last year. During the same period, sales amounted to 688.1 billion KRW, a 3.7% decrease. However, compared to the first quarter, these figures increased by 1.9% and 43.4%, respectively.

In the first quarter, profitability declined due to a decrease in port, forwarding, and express delivery volumes caused by the global economic downturn, increased investment costs from the introduction of parcel hub terminals and wheel sorters, and rising operating costs. However, Hanjin has maintained stable growth by focusing on expanding revenue sources and improving costs, including acquiring new customers in the parcel delivery business, investing in domestic and international logistics infrastructure and automation, strengthening new business activities of overseas subsidiaries, and recovering the performance of container terminal subsidiaries.

To strengthen sustainable growth capabilities in the mid to long term, Hanjin is focusing on ▲profitability-centered operations ▲productivity enhancement through automation and equipment modernization ▲expansion of overseas markets and pioneering local logistics businesses ▲and fostering digital platform businesses this year.

The parcel delivery business is enhancing service capabilities by continuously expanding capacity through facilities such as the Daejeon Smart Mega Hub, scheduled to open in early 2024, and investing in automation equipment. Profitability is being improved by expanding high value-added customers and optimizing operations using existing infrastructure. Additionally, by securing additional fulfillment bases and diversifying services such as same-day delivery, the company is actively responding to various customer needs.

The logistics business is continuously expanding logistics infrastructure by strengthening partnerships with strategic customers and building customized logistics centers utilizing the company’s infrastructure. As the largest container terminal operator in Korea, managing Incheon New Port HJIT, Busan New Port HJNC, and Pyeongtaek Port PCTC, Hanjin has maximized sales capabilities through strategies based on its ability to provide logistics services linked to terminals, including investments in global logistics centers on port hinterlands. Furthermore, by participating in logistics for new growth industries such as pharmaceuticals, eco-friendly energy, and secondary batteries, the company is expanding revenue sources and discovering new growth engines.

For overseas business, Hanjin is strengthening one-stop logistics solution capabilities centered on the Incheon Airport GDC (Global Distribution Center), which was expanded last year to actively respond to the increase in global e-commerce volumes. This year, the Indonesian representative office was converted into a corporation, and the company is expanding global business centered on 12 overseas subsidiaries in the U.S., China, Europe, and other regions by expanding fulfillment services in the U.S. and enhancing logistics solution capabilities related to global e-commerce. At the same time, Hanjin is intensively fostering its digital platform business and accelerating global logistics and eco-friendly activities to continuously secure future growth engines.

A Hanjin official stated, “We have been maintaining a stable growth trend since the second quarter. Going forward, we will strengthen core business competitiveness through customer-centric service capabilities and operational efficiency, and respond to the rapidly changing logistics industry by making timely investments for the expansion of domestic and overseas businesses as a global logistics solution company.”

This content was produced with the assistance of AI translation services.