The chairman of Hyundai Group, which controls struggling Hyundai Merchant Marine (HMM), is willing to inject her own capital to save the line which is saddled by debts of around $5.8bn.
Hyun Jeong-eun is in discussions with creditors led by Korea Development Bank (KDB) on how to save the firm. She is asking creditors for more funds as well as breathing space for loans due for repayment later this year.
A brokerage, a terminal in Busan and its dry bulk division are all to be sold as HMM scales back and focuses on containers to survive.
