Hyundai Merchant Marine Company targets expansion

by Robeel Haq Monday, 26 May 2008

Hyundai Merchant Marine Company has outlined plans to establish wholly owned overseas units in Dubai and Russia to capitalise on market expansions in the oil-rich countries.

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The company, which is South Korea's second-largest shipping firm behind Hanjin Shipping Company, has not revealed the amount of its investment in the local branches.
"With oil prices running high, buying power is becoming stronger in the Middle East and Russia and many infrastructure development projects are under way," the shipping company wrote in a statement.



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