Hanjin calls for standard international logistics systems

Cho Yang-ho, chairman of Hanjin Group, to which Korean Air belongs, called for standardization of international logistics systems to improve global economy and trade in a working group discussion for trade and investment issues at the G-20 Business Summit at Cannes, France, yesterday.

Cho brought up the example of the “e-Freight project” by the International Air Transport Association, which he said could save $4.9 billion annually. The project is to substitute electronic documentation for paper documents. Cho is a board member of the IATA.

The business summit was held for two days on Wednesday and yesterday along with the Group of 20 Summit in Cannes.

Meanwhile, Kim Seung-youn, chairman of Hanwha Group, also attended the business summit in Cannes.

Kim took part in a green-growth discussion and emphasized the importance of investing in green growth. Kim said during the discussion that abolishing subsidies for coals and oil is a solution to pass on a clean environment to the next generation.

Hanwha has been aggressively investing in developing renewable energy including solar energy.

Also present at the discussion were Mexican President Felipe Calderon and Laurence Parisot, president of Medef, the largest union of empolyers of France.