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Hanjin Shipping to get $140m loan from Korean AirHanjin Shipping to get $140m loan from Korean Air
South Korea-based Hanjin Shipping will receive a loan of KRW150bn ($140m) from Korean Air, a major shareholding of the shipping firm.
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Kalyakan - stock.adobe.com
In return, Hanjin Shipping Holdings will be pledging Hanjin Shipping shares to Korean Air.
Hanjin Shipping said this decision has been made by the board of directors of Hanjin Shipping, Hanjin Shipping Holdings and Korean Air to “overcome current liquidity problems.”
“Hanjin Shipping will continue to work on various measures to improve liquidity and strengthen balance sheets,” the company said.
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