Hanjin container ship
Although the Korean government had intended to set up a 4 trillion won fund to buy 62 vessels from shipping firms to aid restructuring, only 198.2 billion won has been used to buy 17 ships. … In addition to the program falling far short of the target, the purchased ships belong to large firms — Hanjin Shipping Co. and Hyundai Merchant Marine Co. — raising concerns that smaller firms’ restructuring is lagging behind. Financial institutions are responsible for putting up 20 percent of the price of the ship and the government is responsible for 40 percent of the funding. The remaining 40 percent is put up by the shipping firm, which will buy back the vessel after five years in form of a deposit.