Korea Line suffers huge loss in 2009

SEOUL, Feb. 11 (Yonhap) -- Korea Line Corp., South Korea's second-largest
shipping line, reported Thursday a huge loss for last year, hit by plunging
freight rates amid an economic slump.

Korea Line posted a net loss of 593 billion won (US$512.8 million) in 2009,
compared with a profit of 367.8 billion won in 2008, the company said in a
regulatory filing.
The company also reported an operating loss of 488 billion won last year as sales
for the year dropped 31.1 percent from a year ago to 2.27 trillion won.
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