Industry
Hanjin Shipping gets 60 bln won loan from Korean Air Lines
Sept. 29, 2016
Cash-strapped Hanjin Shipping Co. said Thursday that it has secured a 60 billion won ($54.6 million) loan from its largest shareholder, Korean Air Lines Co., which will be used to resolve unpaid fees for chartered ships and help its stranded container vessels unload cargo.With the loan, Hanjin Shipping, which is currently under receivership, has raised a total of 110 billion won in cash, including 40 billion won from the personal account of Cho Yang-ho, chairman of the Hanjin Group, the parent c