Seoul court considers selling Hanjin's Asia-US business

The Seoul Central District Court is considering selling Hanjin in pieces after an evaluation committee has estimated that the assets could likely generate more value in parts. The company's Asia-US business might be the first to be divested.

Photo: Reed Saxon/AP/POLFOTO

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 its assets could be more valuable if sold in parts, a court spokesman said by phone 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.

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