China Targets South Korean Shipbuilder Hanwha Over US Probe

The Chinese communist regime on Oct. 14 sanctioned five U.S.-linked units of South Korean shipbuilding giant Hanwha Ocean and threatened further retaliatory actions against entities supporting the U.S. government’s investigation into its maritime sector.
The affected subsidiaries are Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC, and HS USA Holdings Corp, according to a notice from China’s Ministry of Commerce.
Chinese entities and individuals are prohibited from doing business and engaging in transactions with the targeted units of Hanwha Ocean, the ministry said.
Shares of Hanwha Ocean closed down 5.8 percent following Beijing’s announcement…. 

Read More

Leave a Reply