[Asia Economy Reporter Dongwoo Lee] Hanjin Co., Ltd. has tentatively compiled its management performance for the third quarter of 2021. On a consolidated basis, cumulative sales reached 1,799.6 billion KRW, an 11.5% increase compared to the same period last year, while operating profit was 73.9 billion KRW, a 10.3% decrease compared to the same period last year.
The operating profit for the third quarter was 32.9 billion KRW, a 19.6% increase compared to the second quarter, and a 143.7% rise compared to the first quarter, when temporary costs increased due to improvements in courier workers' labor conditions and increased investment in safety. This shows that the company is overcoming the impact of profitability decline and that performance improvement is gaining momentum.
Hanjin Co., Ltd. plans to maintain the effect of performance improvement through parcel price increases, strengthened sales capabilities, and operational efficiency, while continuing investments to strengthen competitiveness in core businesses. This year, the company is expanding the Dongseoul hub terminal and newly operating the Wonju and Sejong hub terminals. It is accelerating capacity expansion and automation of parcel terminals by holding the groundbreaking ceremony for the Daejeon Smart Mega Hub Terminal and planning to introduce wheel sorters at 55 sub-terminals.
With the recovery of the shipping market, solid performance is being maintained in the port stevedoring business. The company is actively expanding logistics infrastructure and responding to the global e-commerce market by participating as an operator of the Busan New Port South Container Terminal and introducing fulfillment automation equipment at Incheon Airport’s Global Distribution Center (GDC).
To foster understanding of digital environmental changes and new IT technologies, Hanjin has introduced a customized training program from Amazon Web Services (AWS) to strengthen the digital capabilities of its executives and employees. It is migrating all IT infrastructure to the AWS cloud to enable flexible and rapid responses to internal and external IT environment changes and to transition to an optimal customer-centric operating model.
A Hanjin Co., Ltd. official stated, “Based on strengthening core business competitiveness and profitability-focused internal management, we will achieve this year’s management goals and establish a sustainable growth foundation based on ESG management.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
