Evergreen builds up joint venture in Korea

Evergreen (former general agent in Korea: Hanyang shipping), a worldwide Taiwanese mega carrier, established a joint venture company in Korea on Jan. 1st, 2001.

Evergreen Korea was born with Hanyang Shipping investing for 51% of the shares and Evergreen headquarters 49%. During the negotiations, Evergreen promised to keep 100% of the workforce, which created concerns. Hanyang Shipping carried out a total of 98,781 TEU between January and October 2000, a small slide over the 100,415 TEU of the same period of 1999. However, rates incomes grew slightly to $3,515,435 over last year's $3,155,435.