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Hanjin saga reveals South Korea corporate governance flaws

Former shipping titan will declare bankruptcy on Friday as the chaebol finally sinks under billions of dollars of debt

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Rocked by a slump in global trade and a growth slowdown in China, Hanjin filed for bankruptcy protection in August after creditors refused to further help it service US$5.37 billion of debt.

Seoul

HANJIN Shipping will declare bankruptcy on Friday, with the former titan of the global shipping industry and one of South Korea's powerful family-run chaebol finally sinking under billions of dollars of debt.

As it heads to a Seoul court to be delivered its last rites, the

sentifi.com

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