The South Korean government is planning a KRW 800bn ($707m) cash injection into Hyundai Merchant Marine (HMM) this year.
The Yonhap news agency cited unidentified industry officials as saying state-run Korea Development Bank (KDB), the shipping company’s biggest shareholder, and Korea Ocean Business Corp (KOBC), could buy KRW 400bn of bonds each from HMM.
An unidentified official at KOBC said details will be announced “soon.”
