It’s not just a merger on the cards for the two South Korean shipping companies, Hanjin Shipping and Hyundai Merchant Marine (See FTWOnline 09/11).
It also appears that the government is also discussing whether to sell them off in an attempt at state-led industrial restructuring.
Continuing our reading of the Seoul daily newspaper, JoongAng Ilbo, we discovered that the vice-ministerial meeting on restructuring which is deciding on the issue has been leaning towards the question of whether the country needs to keep both lines, each of which have a lot of debt.
And, according to JoongAng Ilbo’s ear on the ground, government officials have reportedly discussed the fundamental solution of selling off the companies.
