SEOUL Oct 4 The chairman of Korea Development
Bank (KDB), the lead creditor for both Hanjin Shipping Co Ltd
and Hyundai Merchant Marine Co Ltd, said
on Tuesday that caution is needed before any move is made to
sell a South Korean shipper.
KDB chairman Lee Dong-geol was speaking at a parliament
hearing, and also said that South Korea must maintain one
The remark comes after local speculation about a foreign
shipper potentially buying Hanjin assets or Hyundai Merchant
Marine moved share prices for both companies last week.
Hanjin Shipping, which applied for court receivership in
late August, is due to submit a rehabilitation plan to a Seoul
court in December.
(Reporting by Joyce Lee)