Hyundai Merchant Marine will acquire a 40% stake in a Busan container-terminal, in part to cut costs for its international shipping operations out of South Korea. That confirms its broader position in the government’s shipping strategy and follows a similar integrated approach to Mitsui-OSK and Maersk. Improved profitability is much needed after a 7% decline China-South Korea container shipping rates year-to-date vs. 1% for all China-outbound rates. Hyundai MM has also been increasing its market share on Busan-U.S. lanes, possibly at the expense of profitability. It achieved an 18% marke...