COMPROMISE AGREEMENT

Hyundai Glovis Co., Ltd.

Inv. File No. 17179

___________________________________________________________________________

This Agreement is entered into between:

(1) The Federal Maritime Commission, hereinafter referred to as Commission, and

(2) Hyundai Glovis Co., Ltd., hereinafter referred to as Respondent.

WHEREAS, the Commission is considering the initiation of an assessment proceeding 

against Respondent for the recovery of civil penalties for alleged violations of section 10(a)(2) of 

the Shipping Act of 1984 (Shipping Act), 46 U.S.C. §§ 41102(b); and

WHEREAS, such a proceeding would be based on the Commission’s allegation that 

Respondent engaged in certain practices, to wit: 

Between June 28, 2011 and May 22, 2015, Respondent violated 

section 10(a)(2) of the Shipping Act by participating under certain 

space charter agreements with other operators of RO-RO vessels, 

which agreements had not been validly filed with the Commission 

or pursuant to agreement amendments which were not yet effective

under section 6 of the Shipping Act.

WHEREAS, the Commission is authorized under section 13(c) of the Shipping Act, 46 

U.S.C. § 41109(a), and Subpart W of the Commission’s Rules of Practice and Procedure, 46 C.F.R. 

§ 502.604, et seq. to compromise and collect civil penalties arising for the alleged violations set 

forth and described above; and
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WHEREAS, Respondent has voluntarily disclosed to the Commission information and 

factual details relevant to its transportation activities and practices giving rise to the alleged 

violations set forth and described above; 

WHEREAS, Respondent has agreed to cooperate with respect to investigative activity or 

enforcement action conducted by the Commission regarding the transportation activities identified 

by the Commission or disclosed by Respondent giving rise to the alleged violations herein; and

WHEREAS, Respondent has terminated the practices which are the basis of the alleged 

violations set forth and described above and has instituted measures designed to eliminate such

practices in the future.

NOW THEREFORE, in consideration of the premises herein, and in compromise of all 

civil penalties arising from the alleged violations set forth and described above, Respondent and 

the Commission hereby agree upon the following terms of settlement:

1. Respondent shall make payment to the Commission herewith in the total amount 

of $157,500.00.

2. This instrument shall forever bar the commencement or institution of any 

assessment proceeding or other claim for recovery of civil penalties from 

Respondent, its officers, directors, employees, or agents with respect to the alleged 

violations of section 10(a)(2) of the Shipping Act as set forth and described above 

that occurred between June 28, 2011 and May 22, 2015.

3. It is expressly understood that this Agreement is not, and is not to be construed as, 

an admission by Respondent to the alleged violations set forth and described above.
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4. This Agreement is subject to approval by the Commission’s Managing Director in 

accordance with 46 C.F.R. § 502.604.

Hyundai Glovis Co., Ltd.

Signature: __________________________

Printed Name: ______________________

Title: ______________________________

Date: ______________________________

APPROVAL AND ACCEPTANCE

The above Terms and Conditions and Amount of Consideration are hereby approved and 

accepted:

By the Federal Maritime Commission:

____________________________________

Brian Troiano, Deputy Director (Date)

Bureau of Enforcement

____________________________________

Peter J King (Date)

Deputy Managing Director