Hanjin Shipping to pay a 15% dividend

Hanjin Shipping decided to pay out a 15% dividend on May 19th.
Won-Pyo, Choi, CEO of Hanjin Shipping, other managers and stockholders attended a general stockholder meeting. In the meeting there financial statements were reported. Sales for 2003 were 567.9 billion won, ordinary income 423.1 billion won, and net profit for the period was 295.2 billion won. They also added 4 new managers for innovation in their control system.
In 1999 and 2000 they paid out a 10% dividend, in 2001, 7%, and in 2002, 5%. They also resolved to reform the articles of association to introduce a quarterly dividend system.
The CEO of Hanjin Shipping, Won-Pyo, Choi, said, "We plan to increase stockholder's value in the first place and to achieve sales of 6 trillion won (approximately 5.2 billion dollars) and business income of 600 billion won (approximately 520 million dollars) in 2004. Also we plan to promote business policies to significantly increase income and to prepare for the future with a stable and profitable system."
Hanjin Shipping plans to strengthen the strategic cooperation of with COSCO, K-Line, Yang Ming, and Senator. Through this cooperation, Hanjin Shipping plans to increase service competitiveness, to rationalize routes, and pursue a low cost strategy.
They also decided to strengthen business in China and for a stable business system they plan to order new containerships and improve risk management for exchange rates and interest."
In bulk business, Hanjin Shipping will continue to emphasize probitabilixy and flexibilixy. they will also complete authentication of ISPS code for the first quarter this year to increase international faith in safety of ships and cargoes at Hanjin.