The company will ask state-controlled creditor KoreaDevelopment Bank (KDB) to take over 80% of its corporate bonds worth KRW 180bnmaturing on 10 March, the Korea Economic Daily reports.
Hyundai Merchant Marine (HMM) was the first owner to takeadvantage of the scheme which was introduced in July.
Cash-strapped Hanjin has been pulling out various stops toraise around $2bn needed to return to financial health including selling a majority stake in itsbulker wing recently.
Late
