Korea’s shipping giants are increasingly veering their ships toward the south. Recently, Hanjin Shipping and Hyundai Merchant Marine, the nation’s number one and two sea bound transportation companies, announced they are opening a new north-south sea route connecting Asia with the west coast of Latin America.
This comes on the heels of a growing number of newly opened sea routes bound for not only Latin America, but also Africa, because those emerging markets are becoming a force to be reckoned with. Until now almost all the sea routes were focused on the East-West lines that lead to the United States and Europe.