The Hanjin group looks set to lose control of shipbuilder Hanjin Heavy Industries & Construction through its debt restructuring.
The yard company said in a filing on Thursday that it will cut its capital to KRW 72.7bn ($64.7m) from KRW 530.3bn as part of an effort to boost its finances.
After this process in completed in May, its biggest shareholder Hanjin Heavy Industries & Construction Holdings (HHICH) and chairman Cho Nam-ho will no longer own any shares.
