Hanjin Shipping sells stake in its holding company

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Hanjin Shipping sells stake in its holding company

Hanjin Shipping Co., Korea’s leading shipper, said yesterday it has sold off a 2.22 percent stake in Jungseok Enterprise Corp., the de-facto holding firm for the Hanjin Group, for 6.58 billion won ($5.7 million), raising speculation that the company is on course to sever ties with its parent company.

Early this month, Hanjin Shipping sold a 14 percent share in Hanjin Travel Co., one of the group’s key affiliates. Yonhap

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