Independent journal on economy and transport policy
20:18 GMT+1
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The South Korean Financial Services Commission has convened the representatives of KDB and HMM in order to face the Hanjin Shipping emergency
A task force governmental it will characterize activities and assets that generate profit and that they could be yielded to HMM
September 1, 2016
The president of the South Korean Financial Services Commission (FSC), Yim Jong - yong, Korea Development Bank (KDB has convened today the representatives of national the financial institution) and of the company of navigation Hyundai Merchant Marine (HMM) in order to face the problems that could derive from the decision announced yesterday from Hanjin Shipping to introduce request for being subordinate to controlled administration ( on 31 August 2016).
The president of the FSC has asked KDB and HMM to engage itself so that they can be reduced lessened the repercussions of the decision of Hanjin Shipping, that he could determine delays in the delivery or in I forward it of containerized cargos. The representatives of Hyundai Merchant Marine have confirmed that they will activate themselves in order to manage the emergency and that the company will institute ulterior marine services on the routes that previously were realized exclusively by the Hanjin Shipping, of which with the America and with Europe, and - as soon as possible - it will introduce in service at least others 13 ships. Moreover they have assured that HMM will maintain to the relative hires to the new services to a level such to assure that the shippers do not have to be confronted with excessive tariff increases.
In the course of the Yim reunion it has emphasized that, if shortly the Seoul Central District Court will decide if to receive the demand for Hanjin Shipping, from the moment that cannot be excluded the possibility that the company of South Korean navigation comes mail in liquidation, the government will constitute a task immediately force in order to support HMM with the scope that the company acquires the healthy activities of the Hanjin. Task of the working group will be that to estimate which are the ships, the foreign commercial net and the force job that generate profit and to set up a detailed plan in order to sell such activities and asset to HMM.
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The president of the South Korean Financial Services Commission (FSC), Yim Jong - yong, Korea Development Bank (KDB has convened today the representatives of national the financial institution) and of the company of navigation Hyundai Merchant Marine (HMM) in order to face the problems that could derive from the decision announced yesterday from Hanjin Shipping to introduce request for being subordinate to controlled administration 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
