News Release

18th March 2003

New Vietnam Service Starts at KIT


[18th March 2003 – Hong Kong] – The maiden call of “Silver Island” commenced a new direct service between Korea and Vietnam on 8th March 2003 with an inauguration ceremony held at Korea International Terminals (KIT).

The new service is jointly operated by Sinokor and Hanjin Shipping deploying three vessels per week. The new service calls at KIT every Saturday and leaves on the same day for Busan, Hong Kong, Hochimin, Singapore, Pasir Gudang. The service offers significant savings to shippers as it only takes six days from Vietnam to Kwangyang. Also, Hanjin Shipping will use Kwangyang as their transshipment port for cargo destined for the United States.

Mr. Paul Ho, CEO of KIT commented, “We are very pleased to have commenced this new service between Korea and Vietnam. The new service is significant as we strive to build KIT into a major transshipment hub of the region.”