Seoul court mulls selling Hanjin's Asia-US business

Singapore

THE Seoul Central District Court overseeing the receivership filing of Hanjin Shipping Co is considering a disposal of the sales and marketing network of the container line's Asia-US operations as part of efforts to raise funds at the indebted company.

The plan was set in motion after a detailed evaluation of the company under bankruptcy protection indicated that its assets could be more valuable if sold in parts, a court spokesman said on Tuesday. A sale would include employees and customers of Hanjin subsidiaries involved in handling Asia-US cargo as well as some vessels, he said. The court intends to make a decision as soon as possible, he said.