Korea’s shipping industry is expected to see a quicker turnaround this year after a fiscal year in which shipping companies recorded deficits in operating loss, according to industry sources. Hanjin Shipping, the nation’s leading distributor, aims to increase its sales for this year by 15 percent to the 8 trillion won ($6.9 billion) level from last year’s 7.1 trillion won. The company also aims to make more than 200 billion won in operating profit.
Hyundai Merchant Marine, the industry’s second leader, also leveled up its sales target by 17 percent from last year’s 6.1 trillion won. It also expects to make an operating profit of 330 billion won compared to a 565.4 billion won loss in 2009.