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By Alex Lennane
It’s complicated in Korea. Hanjin Group companies Korean Air and Hanjin Shipping Co are to sell off assets to reduce the group’s debt. In the airline’s case, it will recoup some $3.3bn after selling shares in Saudi oil company S-Oil Corp and sell 13 aircraft, including a 777-200. It will also provide its shipping line sister with W100bn to help it get over a temporary liquidity shortage. Hanjin, meanwhile, is to sell port terminals and a bulk carrier business.
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