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17/02/2017 South Korea's once-mighty Hanjin Shipping declares bankrupcy

Hanjin Shipping Co., Ltd. was a South Korean integrated logistics and container transport company. Prior to its financial demise, Hanjin Shipping was South Korea's largest container line. On this day, Hanjin Shipping was declared bankrupt by South Korean courts. The financial struggles and insolvency of Hanjin Shipping were attributable to an ongoing downturn in the container shipping industry.