Hanjin's fate is now in the hands of its creditors

Creditors in South Korea's largest carrier, Hanjin Shipping, have to approve the only three-day old debt-restructuring plan today, Monday. Meanwhile, the struggling carrier has transferred the management of its operations to its main lender, Korean Development Bank.

Den sydkoreanske shippingindustri er i total krise. Landets største rederi søger akut gældssanering. | Photo: Hanjin

As in a gladiator battle, Hanjin Shipping's creditors have to give a thumps up or a thumbs down today, Monday, for the future of the company. This comes after the carrier's fate was transferred on Friday to the creditors with an acute plea for debt-restructuring, according to the Korean newspaper Koreajoongangdaily.

On Friday, CEO of Hanjin Shipping and Chairman of the whole Hanjin Group, Cho Yang-Ho, called a special meeting for the carrier's shareholders.

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