Hanjin Shipping sells Pacific route, related assets for 37 bln won
Hanjin Shipping Co. said Tuesday it has decided to sell parts of its container shipping businesses, including the US-Asia route and related assets, to Korea Line Corp. for 37 billion won ($31.4 million) as it struggles to secure much needed cash. In a regulatory filing, Hanjin, once the country’s No. 1 shipper, said it would hand over its Pacific shipping route business and related customer management and operation information, and subsidiaries and logistics management systems in the US, China, Vietnam [...]