Hanjin nets profit of 161.8 billion won in first half 2002

Hanjin recorded 230.6 billion won in ordinary profit and 161.8 billion won in net income during the first half of 2002 despite foreign exchange losses. Operating profits for Hanjin were down 3.3 trillion due to declines in the shipping market.
Net income and ordinary profit changed sharply up from the red into the black compared with the same period last year, allowing the company to curb its debt ratio down from 530% to 448%.
"Shipping was sluggish in the first half this year due to the world's economic slump, but we have good prospects for operating profits in the second half this year thanks to freight recovery expectations for U.S. trades since August 19," said a Hanjin insider.

Notice: Sorry about misprinting in September 16th edition, trillion won instead of billion won.
For example, in book it was printed as 230.6 trillion won in ordinary profit. But it was wrong.
It has to be replaced with 230.6 billion won. Thanks