Late last year, SM Group, which owns South Korea’s No. 2 bulk carrier Korea Line Corp., acquired now-defunct Hanjin Shipping Co.’s U.S.-Asia route and other assets for 37 billion won (US$32 million).

The shipping firm said it will be able to expand its services as well.

Of the 12 ships, the company runs six chartered ships.

Its fleet includes eight 6,500 TEU-ships and one 4,300 TEU-vessel, SM Line said.

The company said it aims to log 3 trillion won in sales within five years.