South Korea into the sea due to the decline in freight rates fiscal deficit

The second quarter of 2016, Hanjin Shipping loss of 212 billion won (about $191 million 200 thousand), compared to the same period last year recorded data for profit of 104 billion 200 million won ($93 million 900 thousand); the first half of this year, the company's total loss of 473 billion won, 127 billion 100 million won profit for the same period last year.

At present, the cargo market demand downturn, overcapacity, price at a relatively low level, Hanjin this quarter's revenue from last year's 1 trillion and 430 billion won fell to 1 trillion and 970 billion won. This drag, the first half of this year's operating income fell to 3 trillion won by 4 trillion and 100 billion won the second quarter of this year, financially troubled Hanjin tried to negotiate with 22 home owners, cut the lease rates. But after the first round Deliberation, Hanjin Shipping has not been a positive response. 

In early May, and Hanjin officially to the Korea Development Bank, led by seven creditors put forward request for debt restructuring. Since then, Hanjin Shipping has also been creditors for the recovery of the enterprise project approval.