You are here

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

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.


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...

Market voices on: