이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Korean Air board OKs emergency funding to Hanjin Shipping
- Collected
- 2016.09.22
- Distributed
- 2016.09.23
- Source
- Go Direct
After a weeklong deliberation, the board directors of Korean Air allowed the flag carrier to take out 60 billion won from its hoard and lend it to its troubled sister company backed by receivables. The money would have to be paid back once the shipper is paid for delivering its cargoes.
The much-needed funding would reach Hanjin Shipping upon approval from its court trustee.
Hanjin Group was arm-twisted by the government and financial authorities to help the shipper after its vessels and cargoes were turned away in international ports on concerns of insolvency. Hanjin Group Chairman Cho Yang-ho had put up 40 billion won out of his own pocket.
Cho had promised 100 billion won in rescue fund, but help from the flagship airliner was delayed due to protests from outside directors concerned about being implicated on criminal charges of negligence in duty if they help out potentially-doomed company.
By Kim Jung-hwan
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]