Hanjin Group has decided to provide 100 billion won to help businesses hit hard by the chaos in logistics resulting from the collapse of Hanjin Shipping. That’s around 90 million U.S. dollars.
 
The conglomerate announced that the decision was reached on Tuesday during a meeting.
 
Among the 100 billion won, 60 billion won will include the conglomerate’s stakes in overseas terminals, including the one in Long Beach, California, as collateral.
 
The remaining 40 billion won will come from Hanjin Group Chairman Cho Yang-ho’s private assets.
 
A group official said that though Hanjin Shipping is under court receivership, the group reached the latest decision to minimize damage that exporters could suffer from the confusion in logistics.
 
For the smooth handling and transport of cargo, the group also plans to provide assistance by mobilizing its subsidiaries.