[ Hanjin Shipping Expects to Exceed 2 Million TEUs by Year-end ]

July 19, 1999-Hanjin Shipping has hit an all time record high in its
21-year history of container transport. The company moved the equivalent
of one million TEUs in the first seven months of 1999, making it the
first Korean carrier to handle a record number of containers within this
period. The July count reflected a 9% growth during the first seven
months of the calendar year over corresponding period in 1998. Last year
Hanjin handled its one million TEU on August 9th.

The one-millionth container was loaded onto the 4,000TEU-class vessel,
Hanjin Marseilles, mostly carrying electronic goods, computers & parts,
and toys at the Port of Pusan, Korea’s busiest container port.

The strong growth in container throughout can be attributed to the
strong support from customers, high productiviy achieved by the company
and growing international trade.

“We want to thank our customers for their continued support in using
Hanjin Shipping and generating July’s record throughput. We are always
striving to improve our already high standards of productivity to better
the quality of our service. We will continue to work closely with our
customers to give them value-added service.” said a Hanjin spokesman.

“Things are looking good,”said a company spokesman. These are
traditionally low-volume months, and we generally don’t get busy until
the latter part of the summer when holiday inventories start to move.”

Hanjin’s efficiency and service reliability will play an important
role in achieving this year’s target to handle container troughout of
over 2 million TEUs and to reach its revenue goal of US$3.15 billion for
1999.