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An unfortunately obscure headline from the Korean Times, but the nub of it is this: after months of flirting with bankruptcy, Hanjin Group, the South Korean container line’s parent company, has again offered Hanjin Shipping another cash injection, rumoured to be in the region of Won400bn (US$380m). But it comes with caveats, this time in the shape of another management shake-up that will see Hanjin Shipping chairwoman Choi Eun-young hand control of the company to Hanjin Group chairman Cho Yang-ho. ...
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Lou Roll
April 02, 2014 at 1:06 pmThis should be read with the background of the Korean government and major banks tightening their supervision and control over 43 Korean industrial and commerce groups with extensive debt liabilities. On this, see today’s BusinessKorea article, amongst others: http://www.businesskorea.co.kr/article/3889/strengthened-standards-43-major-business-groups-put-under-creditor-management?utm_source=Business+Korea+Daily+Newsletter+Recipients&utm_campaign=e82da91bcb-RSS_NEWSLETTER_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_c5e919851d-e82da91bcb-151594085