Hyundai Group desperate to revive shipping unit

Struggling under a massive $5,8bn debt mountain, the Korea Times today reports that South Korean group Hyundai is seeking a new buyer for its Hyundai Securities subsidiary – the sale to a Japanese buyer last year fell through – as well as its dry bulk division and parts of its terminal portfolio, which is understood to have attracted the interest of Singapore’s PSA. It has also asked Korea Development Bank and its other creditors to extend its loan facilities, while ...