South Korean ocean carrier Hanjin is required to submit a plan for raising 1.1 trillion won to Korea Development Bank by the end of the month.
Korea Airline may help raise liquidity for Hanjin Shipping, according to a report in the Korea Herald.
According to Hanjin Shipping’s annual report, Korea Airlines owned 33.2 percent of Hanjin Shipping’s stock at the end of 2015.
Citing unnamed industry sources, the newspaper said Korea Airlines “is likely to help raise liquidity of up to 700 billion won (U.S. $613 million),” up from 400 billion won it said it initially offered to provide.
The Korea Herald said Hanjin is required to submit a plan for raising 1.1 trillion won to Korea Development Bank by the end of the month.
Korea Airlines may raise additional funds for Hanjin
