HMM currently holds 2.1m shares worth KRW93bn ($86.7m) in Shinhan Financial. The Seoul-listed company intends to offload its entire stake in Shinhan Financial within the next six months, it told the stock exchange in a regulatory filing.
HMM has announced that it is looking to raise around KRW3.3trn from asset sales over the next year to reduce its debts and return to profitability.
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