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Walmart Ends All Contracts With South Korean Shipping Companies

February 14, 2017: 12:00 AM EST
Walmart has terminated all contracts with South Korea-based shipping companies following the Korean government’s move to allow Hanjin Shipping go bankrupt. One of Hanjin Shipping’s biggest consignors for over 20 years, Walmart is reportedly the most adversely affected by the debt-ridden shipping company’s filing for court receivership. Hanjin Shipping had handled about 10 percent of Walmart’s total freight volume, or as many as 30,000 containers, every year.
Jhoo Dong-chan, "Walmart cuts contracts with Korean shippers after Hanjin fiasco", Korea Times, February 14, 2017, © ktimes.com
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