Hanjin Shipping was a major South Korean shipping company, founded in 1977. It was one of the largest container shipping companies in the world, providing global transportation services for goods. The company operated a fleet of container ships and offered logistics solutions, connecting various international trade routes. In 2016, Hanjin Shipping filed for bankruptcy due to financial difficulties and declining shipping rates. This event caused significant disruptions in global supply chains, as many ships were stranded in ports and unable to unload their cargo. The company's collapse highlighted the challenges faced by the shipping industry during economic downturns.