Hanjin Shipping

Hanjin Shipping was a major South Korean shipping company, known for operating container ships and providing logistics services worldwide. Founded in 1977, it became one of the largest shipping firms globally, playing a crucial role in international trade. In 2016, Hanjin Shipping filed for bankruptcy due to financial difficulties and overwhelming debt, disrupting supply chains and stranding cargo ships at sea. The company's collapse highlighted vulnerabilities in the shipping industry and sparked discussions about the challenges faced by global trade networks, including competition, overcapacity, and economic fluctuations.