Hanjin establishes subsidiary in Singapore

South Korea's Hanjin Transportation, a logistics arm of Hanjin Group, announced on Wednesday that it opened a subsidiary in Singapore to expedite the expansion of its logistics network across the ASEAN region.

The Singapore subsidiary will serve as a strategic hub, connecting with existing subsidiaries in Cambodia, Vietnam, Indonesia, Myanmar, Thailand, and other countries in the ASEAN bloc.

Hanjin targets increased forwarding volumes by linking the US, Europe, China, and Southeast Asia, while collaborating with local partners to offer customs clearance, delivery, and integrated logistics services in the region's growing e-commerce sector.

The company plans to broaden inland transportation within Singapore and cross-border transport services to nearby countries.

With the new Singapore subsidiary, Hanjin will operate a network of 18 subsidiaries in 22 countries, with 42 operational hubs by the end of the year.

Write to Jae-Kwang Ahn at ahnjk@hankyung.com