[Aju News DB]
South Korea's embattled shipper, Hanjin Shipping, heralded the layoff of its sea-based workforce Thursday as a court kickstarts the second round of bidding to sell key assets.
The shipper disclosed its plan in an internal notice to lay off more than 600 sea-based Korean workers from December 10. The planned layoff automatically affects the fate of some 640 foreign workers. The company has already promised to lay off 700 ground-based workers after completing the sale of assets.
Hanjin, which filed for court receivership on August 31, has been under pressure to speed up the sale of assets and a cut in its manpower. It has been allowed to sell its 54-percent stake in Total Terminals International, which operates two US facilities in Long Beach and Seattle, and to close European operations.
Hyundai Merchant Marine, the country's second-largest shipper controlled by creditors, and four other contenders have jumped into the the race to acquire Hanjin's assets. The second round of bidding starts on Thursday.
Hanjin's court receivership triggered chaos in its global cargo traffic. Now the shipper has completed some 95 percent of cargo unloading worldwide with five ships still seized for failing to meet unpaid service fees.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
