Hanjin's biggest creditor hesitant with financial help

While USD 14 billion worth of cargo is stranded on Hanjin's vessels, the carrier's biggest creditor, Korea Development Bank, is hesitant to fork out financial aid, reports Reuters. 11,000 jobs are in danger in port city Busan.

BY JOHANNES HARTKOPF-MIKKELSEN

It will be difficult to give Hanjin Shipping the needed fresh capital, a spokesman for Korea Development Bank, KDB, tells Reuters after the Seoul court presiding over Hanjin's receivership requested more funds from the bank so that Hanjin can normalize operations.

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