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Hanjin expected to outline restructuring plans on Wednesday
Local media in Seoul is reporting Hanjin Shipping will unveil a creditor-led restructuring program on Wednesday.
The plans are likely to include asset sales, wage freezes and like compatriot Korean line Hyundai Merchant Marine (HMM) Hanjin is likely to enter negotiations with tonnage providers to try and lower the rates of its chartered in fleet.
Hanjin has a couple of months to negotiate its chartering costs as its KRW190bn won ($166.3m) worth of corporate bonds are expected to mature at the end of June.