Hyundai Logistics Plans To Own Freighter

Hyundai Logistics Co. Ltd., one of South Korea's top three delivery companies, planned to operate its own freighter in 2007 for use between Korea, China and Japan, Reuters reported. "We have drawn up a blueprint to operate our own freighter for delivery so that we will be able to meet growing demand in Northeast Asia," Choi Ha-kyung, CEO of the unlisted firm, said. "Our ultimate goal is not just simple delivery but a total service on a turn-key basis," Choi said. International shipping volume has grown to take up about 20 percent or 200 billion won ($154.4 million) of the nation's logistics industry, Choi said. Market share of the 13-year-old latecomer rose to over 10 percent this year from less than three percent in 1995.