[ Korean Shipping Companies to Rush to Chinese Mainland ]

Korean Shipping Companies to Rush to Chinese Mainland to open Its Own
Office

The national flag carriers are expected to rush to China to set up their
local office with a independent investment following the 2nd Korea and
China Maritime Consultant Meeting.
Hanjin Shipping and Cho Yang Line have already filed an application to
the Ministry of Transportation on August 12, and Hyundai Merchant Mari-
time waiting for the decision of Chinese authority concerned and Bei-
jing based PENAVICO.
In view of the fact that the Chinese government is considering this ma-
tter in a very positive manner, it is very likely that the Korean ship-
ping companies will be able to obtain the pertinent permission from them.
In the meantime, our government is planning to allow COSCO to call
port of Busan in return for the Chinese government’s permission.