Korea's FSC to minimize impact of Hanjin's collapse with acquisitions
South Korea's Financial Services Commission (FSC) stresses that it will take the necessary steps to minimize the consequences of Hanjin's collapse. The vice chairman also calls for competitor Huyndai Merchant to acquire Hanjin's healthy assets.
BY DANIEL LOGAN BERG-MUNCH
South Korea's largest carrier, Hanjin Shipping, has filed for receivership at a Seoul court on Wednesday.
The decision was expected, as the carrier's creditors rejected Hanjin's latest proposal for a rescue plan, but the news nevertheless cause a stir in a country where the shipping industry plays a big part in the national economy.
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