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Media: Korea Line owner retracts offer for Hanjin's terminals

SM group, which owns Korea Line, has abandoned its offer for Hanjin's share of terminal company Total Terminals International. Instead, Hyundai Merchant Marine and MSC seem to be the obvious candidates to buy the company, which covers the terminal in Long Beach, US.

Photo: Reed Saxon/AP/POLFOTO

SM Group, which is behind Korea Line, has pulled out of the battle for Hanjin Shipping's terminal in Long Beach, California, report South Korean media.

The conglomerate was the preferred buyer of Hanjin's share of 54 percent of the Total Terminals International, which also covers a share in the port in Seattle.

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