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[HANJIN CRISIS] Hanjin Group suffers biggest drop in market cap
By 박윤아Published : Sept. 1, 2016 - 10:21
[THE INVESTOR] Hanjin Group, whose shipping affiliate filed for court receivership this week, fell five notches in market capitalization rankings this year among the top 30 listed conglomerates, according to the Korea Exchange on Sept. 1.
The group, whose businesses range from hotel operations to flag carrier, had 4.39 trillion won (US$3.98 billion) in market cap as of Aug. 31, shedding 274.2 billion won. The loss put the group at No. 28 in the rankings, down from No. 23 at the end of last year.
The conglomerate’s cargo carrier Hanjin Shipping on Aug. 31 applied for court protection after its creditors decided to cut off their financial support for the company sunk deep in debts. The affiliate’s market cap plunged from 891 billion won at the end of 2015 to 304 billion won this year.
(theinvestor@heraldcorp.com)
The group, whose businesses range from hotel operations to flag carrier, had 4.39 trillion won (US$3.98 billion) in market cap as of Aug. 31, shedding 274.2 billion won. The loss put the group at No. 28 in the rankings, down from No. 23 at the end of last year.
The conglomerate’s cargo carrier Hanjin Shipping on Aug. 31 applied for court protection after its creditors decided to cut off their financial support for the company sunk deep in debts. The affiliate’s market cap plunged from 891 billion won at the end of 2015 to 304 billion won this year.
(theinvestor@heraldcorp.com)
