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The death of Hanjin Shipping's Chairman and CEO, Mr Sooho Cho, is believed to have fuelled speculation that the shipping company may now become a take-over target. Sooho Cho held 6.9 per cent stake in the company. Sooho Cho, who joined Hanjin Shipping in 1985 as senior vice-president, led the company to become Korea's biggest carrier, transporting more than 100 million tonnes of cargo annually, and the world's seventh largest. He is credited with introducing 4,000-TEU capacity ships — the first time for any Korean line, way back in 1992 and the nation's largest 8,000-TEU vessels in the trans-Pacific trade in late 2005.

Hanjin Shipping also invested approximately $900,000 for establishing Hanjin Shipping India, a wholly-owned company, due to begin operations from April 2007. Hanjin Shipping India is to have its own outfits in Mumbai, New Delhi and Chennai while the existing agency arrangement with Confreight Shipping is to continue at Kolkata, Kochi and Tuticorin.

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