South Korean government to provide Hanjin Shipping with 100b won of funding

[SEOUL] South Korea's government has decided to provide embattled Hanjin Shipping Co Ltd with about 100 billion won (S$123.86 million) or more of long-term, low interest funding, wire service Yonhap reported on Tuesday.

Earlier on Tuesday, South Korean government officials and MPs of the ruling Saenuri party held a meeting to discuss measures related to Hanjin Shipping's court receivership.

Hanjin Shipping shares jumped more than 25 per cent after Yonhap reported the funding decision, citing party and government officials, before later paring some gains.

REUTERS