GCTL8.com (FocusAsia Media Ltd)

SEOUL, Nov 24 (FAM) – South Korea’s Hanjin Shipping has announced that it will sell the assets of its Asia to US container operations to Korea Line Corporation as it seeks to raise liquidity to pay off its debts.

The shipping line said Korea Line would purchase Hanjin’s Asia-US network, client management and operational data, logistics management systems and relevant subsidiaries in the US, China, Vietnam and four other countries for Won37bn ($31.5m), a Hanjin official told Lloyd’s List.