Hanjin Logistics vows to overcome economic uncertainty

Hanjin Logistics President and Chief Marketing Officer Emily Cho speaks during the Hanjin Unboxing Day event at Seoul Dragon City, Tuesday. Yonhap

Hanjin Logistics President and Chief Marketing Officer Emily Cho said Tuesday that the logistics firm will fulfill its previous year’s promise that it would post 3.5 trillion won ($2.4 billion) in annual revenue for next year, despite the uncertain business environment.

The younger sister of Hanjin Group and Korean Air Chairman Cho Won-tae also expressed optimism that the air carrier’s forthcoming acquisition of its smaller rival, Asiana Airlines, will have a positive impact on her company’s business, although the former Jin Air vice president emphasized different roles of each of the group’s affiliates.

The heiress made the remarks during the Hanjin Unboxing Day event, which has been held annually since last year to support e-commerce sellers using the company’s services for global expansion.

“Hanjin Group and our company will celebrate their 80th anniversary next year,” she told reporters at the event. “Although the situation has become less predictable, we will counteract flexibly for the growth of our clients and for Korea’s exports and imports.”

Hanjin Logistics President and CEO Noh Sam-sug said in his opening remarks that the company decided not to cancel the event, based on the belief that business should carry on despite the “unprecedented turmoil” over the past few days.

“We decided to proceed with today’s event as planned, so that we can maintain our precious everyday lives,” he said.

Abstaining from directly mentioning President Yoon Suk Yeol’s short-lived martial law, the CEO instead talked about international affairs, such as intensifying protectionist trade policies and Russia's prolonged invasion of Ukraine.

In response to a question about the company’s strategies for its global business, Noh told reporters that the logistics firm aims to build a broader global network next year by making inroads into Mexico, East Europe and Africa.