Hanjin
A South Korean chaebol whose businesses span aviation, logistics, shipping, airport services, hotels, tourism, and related infrastructure.
Last updated October 26, 2026
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Overview
Hanjin is a South Korean chaebol and diversified business group built around transportation and logistics. Founded by Cho Choong-hoon in November 1945, the group initially concentrated on freight and materials transport. Its early expansion was closely connected with contracts for the United States military in Korea and Vietnam, which gave the company experience in large-scale cross-border logistics and helped finance later diversification. Hanjin subsequently developed activities in trucking, warehousing, container handling, shipping, aviation, airport services, information systems, hotels, tourism, education, and real estate. A decisive turning point came in 1969, when Cho acquired the loss-making state-owned Korean Air Corporation. The transaction established aviation as a central pillar of the group and eventually led to the development of Korean Air as Hanjin's most internationally recognized operating company. In the same period, Hanjin entered containerized shipping through an agreement with Sea-Land Service and opened a container yard at Busan in 1970. The group later expanded its logistics footprint into the Middle East, signing port-related contracts in Kuwait and Saudi Arabia during the late 1970s and early 1980s. During the 1990s, Hanjin broadened its integrated logistics platform. It acquired Korea Freight Transport Company in 1990, introduced Hanjin Express in 1992, began handling cargo at the ports of Long Beach and Seattle through Total Terminals International, and initiated container rail service between Busan and Uiwang. Its shipping arm became a major international container carrier; Hanjin-Senator was at one point described as the world's seventh-largest container transportation and shipping company. The group also maintained interests in airport ground services, port terminals, information technology, hotels, tourism, and educational institutions. Leadership and ownership remained centered on the founder's family. Following Cho Choong-hoon's death in 2002, his eldest son Cho Yang-ho inherited control of Korean Air, while his third son Cho Soo-ho received Hanjin Shipping. After Cho Soo-ho died in 2006, his widow Choi Eun-young became chairwoman of Hanjin Shipping. Korean Air later acquired a 33.2 percent stake in Hanjin Shipping in June 2014. Hanjin's corporate structure was reorganized in 2013, when Hanjin KAL was established as a holding company and the group formally moved away from its previous cross-shareholding arrangement. The group nevertheless faced severe financial stress in its shipping operations. Hanjin Shipping filed for bankruptcy protection on August 31, 2016, after creditors withdrew support and judged the parent company's funding proposal inadequate. The collapse was one of the most consequential failures in the modern container-shipping industry, although the wider Hanjin Group continued operating through Korean Air, logistics, airport, hotel, and other businesses. In the post-founder period, Cho Yang-ho led the group until his death in 2019. Cho Won-tae subsequently became chairman and chief executive. Hanjin today is best understood not as a single-product brand but as a family-controlled corporate group whose identity is anchored by transportation, aviation, and logistics. Its portfolio includes Korean Air, Jin Air, Hanjin Transportation, airport and terminal businesses, hotel networks, tourism operations, information-service companies, and affiliated educational and nonprofit organizations. The group operates primarily from South Korea while serving international transportation and travel markets.
History
Hanjin began in November 1945, shortly after the end of World War II, when Cho Choong-hoon established a transport business in South Korea. Its first major growth opportunity came from military logistics. The company transported materials for the United States Army in Korea and later secured a major contract with the U.S. Eighth Army in November 1956. In March 1966, it entered a broader arrangement covering U.S. military forces in Vietnam, including the Army, Navy, and Air Force. The Vietnam-era contracts provided a substantial financial base for Hanjin's subsequent expansion. The group diversified into aviation and container logistics in 1969. On March 1 of that year, Cho acquired the struggling state-owned Korean Air Corporation, the predecessor of Korean Air. In November, Hanjin entered containerized shipping through a deal with Sea-Land Service. It opened its first container yard at Busan in September 1970. During the late 1970s and early 1980s, Hanjin also pursued international port and cargo contracts in the Middle East, including work connected with Shuwaik in Kuwait and Dammam and Jeddah in Saudi Arabia. Hanjin expanded its domestic and international logistics network during the 1990s. It purchased Korea Freight Transport Company in March 1990, adding trucking and warehousing capabilities. Hanjin Express was launched in June 1992 for small-package delivery and courier services. In August of the same year, the group began cargo loading and unloading at Long Beach and Seattle through Total Terminals International. It introduced container rail service between Busan and Uiwang in January 1993 and transported grain to North Korea in May 1995. Its shipping operations became internationally significant, and Hanjin-Senator was described as one of the world's largest container carriers before its operations ended in 2009. The succession after the founder's death reshaped the group. Cho Yang-ho, the founder's eldest son, inherited the Korean Air side of the business in 2002. Hanjin Shipping was assigned to Cho Soo-ho, the founder's third son. Cho Soo-ho died from lung cancer in 2006, after which his widow Choi Eun-young became chairwoman of Hanjin Shipping in 2007. Korean Air acquired a 33.2 percent interest in Hanjin Shipping in June 2014. Hanjin formally reorganized its governance in 2013 through the creation of Hanjin KAL as a holding company. The change was intended to replace the group's earlier cross-ownership structure with a holding-company framework. The shipping business subsequently encountered worsening financial conditions. On August 31, 2016, Hanjin Shipping filed for bankruptcy after creditors withdrew their support, concluding that the parent company's proposed funding plan was insufficient. The failure disrupted global container shipping and marked a major contraction of Hanjin's former maritime presence. The broader group survived through its other businesses, particularly Korean Air, logistics, airport services, and hospitality. Cho Yang-ho remained group chairman until 2019, and Cho Won-tae assumed leadership afterward. Hanjin's current identity is therefore rooted in a portfolio rather than a single operating activity. Its affiliated businesses cover passenger and cargo aviation, low-cost air travel, ground transportation, container terminals, logistics technology, airport support, hotels, tourism, real estate, education, and nonprofit institutions. The group remains controlled by the founder's descendants and maintains an international operating footprint through transportation and travel networks.
- 2019
Cho Won-tae becomes chairman
[1]Cho Won-tae succeeds Cho Yang-ho as chairman and CEO of the group.
- 2016
Hanjin Shipping files for bankruptcy
[1]The group's major shipping affiliate enters bankruptcy after creditor support is withdrawn.
- 2013
Hanjin KAL is established
[1]The group creates Hanjin KAL and adopts a holding-company structure.
- 1992
Hanjin Express launches
[1]The group introduces an express delivery and courier business.
- 1990
Expansion into trucking and warehousing
[1]Hanjin acquires Korea Freight Transport Company.
- 1970
Busan container yard opens
[1]Hanjin opens its first container yard at the Port of Busan.
- 1969
Entry into aviation and container shipping
[1]Hanjin acquires Korean Air Corporation and signs a container-shipping agreement with Sea-Land Service.
- 1966
Vietnam military logistics expansion
[1]The company begins a major contract covering U.S. armed forces logistics in Vietnam.
- 1956
U.S. Eighth Army contract
[1]Hanjin signs a major transportation contract with the U.S. Eighth Army in Korea.
- 1945
Hanjin is founded
[1]Cho Choong-hoon establishes the transport business in November, shortly after the end of World War II.
Products and positioning
A diversified South Korean transportation and logistics group with major aviation, airport-service, shipping, and travel assets.
Aviation · 1969
Korean Air
Korean Air is Hanjin's principal aviation business and the group's best-known international operating brand. Hanjin entered aviation in 1969 by acquiring the loss-making state-owned Korean Air Corporation. The airline provides passenger and cargo air transportation and has historically served as a strategic anchor for the group's airport, logistics, and travel interests.
Aviation
Jin Air
Jin Air is an airline affiliate within the Hanjin aviation portfolio. It represents the group's low-cost aviation segment and complements Korean Air's full-service network within the wider group structure.
Ground logistics
Hanjin Transportation
Hanjin Transportation provides freight transportation, trucking, warehousing, and related logistics services. Its development reflects the group's original transport roots and its later effort to connect land-based distribution with port, air-cargo, and international logistics activities.
Courier and parcel delivery · 1992
Hanjin Express
Introduced in 1992, Hanjin Express focuses on small-package delivery and courier services. The business extended Hanjin's logistics presence from industrial freight into time-sensitive parcel transportation.
Port logistics · 1970
Port and terminal operations
Hanjin's port-related activities include container yards, container terminals, and cargo-handling operations. The group developed this capability through its early Busan investment and later international operations, including cargo handling at Long Beach and Seattle.
Hotels and leisure
KAL Hotel Network
KAL Hotel Network represents Hanjin's hospitality and leisure interests. It forms part of a broader tourism, hotel, and real-estate portfolio associated with the group's aviation and destination-services businesses.
Controversies
2020
South Korea FTC fines logistics firms over POSCO contract collusion
South Korea's Fair Trade Commission imposed a combined 46.04 billion won in fines on seven logistics firms, including CJ Logistics, for colluding on logistics contracts assigned by POSCO from 2001 to 2018. The FTC said the firms selected winning bidders before bidding began; CJ Logistics was fined 9.46 billion won.
Brand decisions
2016
Hanjin Shipping bankruptcy filingOtherBackground
Hanjin Shipping faced financial distress, and creditors concluded that the parent company's proposed funding plan was inadequate.
Action taken
Hanjin Shipping filed for bankruptcy on August 31, 2016.
Aftermath
The filing brought a major Hanjin shipping operation into bankruptcy while the wider group continued through aviation, logistics, airport, hotel, and other affiliates.
2014
Korean Air investment in Hanjin ShippingM&ABackground
Hanjin's aviation and shipping businesses remained strategically connected within the group.
Action taken
Korean Air acquired a 33.2 percent stake in Hanjin Shipping.
Aftermath
The investment increased Korean Air's ownership interest in the shipping affiliate before the latter's subsequent financial collapse.
2013
Creation of Hanjin KAL holding companyStrategyBackground
Hanjin sought to change its traditional cross-shareholding arrangement.
Action taken
The group established Hanjin KAL as a holding company and formally shifted toward a holding-company structure.
Aftermath
Hanjin KAL became the central corporate vehicle for the group's ownership and governance framework.
1969
Acquisition of Korean Air CorporationM&ABackground
The state-owned Korean Air Corporation was loss-making when Hanjin founder Cho Choong-hoon acquired it.
Action taken
Hanjin took control of the airline in March 1969, creating the foundation for the group's aviation business.
Aftermath
Aviation became one of Hanjin's core sectors and Korean Air became its most prominent operating brand.
Recent events
- 2019
Cho Won-tae succeeds Cho Yang-ho as group leader[1]
Leadership change
After Cho Yang-ho's death, Cho Won-tae became chairman and chief executive of Hanjin Group.
- 2016
Hanjin Shipping files for bankruptcy[1]
Bankruptcy · Other
Hanjin Shipping filed for bankruptcy on August 31 after creditors withdrew support and rejected the adequacy of the parent company's funding plan.
- 2014
Korean Air acquires a stake in Hanjin Shipping[1]
M&A
Korean Air acquired 33.2 percent of Hanjin Shipping, strengthening the relationship between the group's aviation and shipping businesses.
- 2013
Hanjin Group adopts a holding-company structure[1]
Other
Hanjin KAL was established as the group's holding company as Hanjin moved away from its former cross-shareholding structure.
- 1969
Hanjin acquires the loss-making Korean Air Corporation[1]
M&A
Founder Cho Choong-hoon acquired the state-owned Korean Air Corporation, establishing aviation as a central business of the group.
- 1969
Hanjin enters containerized shipping[1]
Product launch
The group signed an agreement with Sea-Land Service and subsequently developed container-handling infrastructure, including a Busan container yard.
Sources2 sources
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