Weaker won wipes out Hyundai’s gains

Mike Grinter - Tuesday 18 November 2008

SOUTH Korea’s second largest shipping company, Hyundai Merchant Marine, was always going to be more vulnerable than other operators in the region by virtue of the country’s suffering currency.

Poor results during the third quarter of this year were largely the result of the local currency losing up to 30% of its value against the US d...