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FMC Adds South Korean Company to Controlled Carrier List

The Federal Maritime Commission on July 1 added Hyundai Merchant Marine to its Controlled Carrier List, a list of carriers that are subject to increased FMC regulations because they are directly or indirectly owned by foreign governments. The FMC said…

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Hyundai Merchant Marine, a container transportation company, is controlled by the South Korean government but will be exempt from certain controlled carrier regulations because of a treaty the U.S. and Korea signed in 1957.