Shares of Hanjin Group’s key companies moved in opposite directions Monday, as investors gauged the expected impact of its shipping affiliate’s pursuit of a creditor-led rehabilitation.

Hanjin Shipping tanked on the main Seoul bourse, with its stocks closing at 1,825 won ($1.60) per share, 29.94 percent lower than the previous close. Hanjin KAL, the group’s holdings firm, soared 8.42 percent to 20,600 won, while Korean Air Lines declined 2.3 percent to 29,750 won. 


Hanjin Shipping, the country’s top container carrier and the world’s ninth by capacity, said Friday it will push for a debt settlement agreement with creditors, acknowledging that its debt problems are so grave it won’t be able to resolve them alone.

Stock analysts from major local brokerage houses said the decision clears up the key uncertainty that has been weighing down on other Hanjin Group companies in the past months, as they had been mobilized to support Hanjin Shipping.

“Hanjin Shipping’s decision to seek a debt settlement agreement with creditors lowers the possibility of Korean Air providing additional support to the shipper,” Shin Min-seok of Hana Financial Investment said in a report.

By Lee Sun-young (milaya@heraldcorp.com)