The collapse of South Korea 's Hanjin Shipping has upset global trade as the nation 's largest port turned away the company 's ships leaving manufacturers scrambling for alternatives . It filed for court protection on 6 August after its banks ended their financial support , resulting in ports from China to Japan , the US and Canada refusing to allow access to Hanjin 's ships . LG Electronics reportedly had to cancel its orders with China and is looking for alternatives to ship its cargo . Home appliances , unlike mobile phones and semiconductors , are shipped by sea , leaving one official to note that " this will have an impact on the entire industry . " The South Korean ministry has called on local rival Hyundai Merchant ##s to help out , however , as we have previously noted , it too is under voluntary debt restructuring .
The collapse of South Korea's Hanjin Shipping has upset global trade as the nation's largest port turned away the company's ships leaving manufacturers scrambling for alternatives. Hanjin filed for court protection on 31 August after its banks ended their financial support, resulting in ports from China to Spain, the US and Canada refusing to allow entry to Hanjin's vessels. LG Electronics reportedly had to cancel its orders with Hanjin and is looking for alternatives to ship its cargo. Home appliances, unlike mobile phones and semiconductors, are shipped by sea, leaving one official to note that "this will have an impact on the entire industry." The South Korean ministry has called on local rival Hyundai Merchant Marine to help out, however, as we have previously noted, it too is under voluntary debt restructuring.