Philippine banks are becoming the second largest shareholder of South Korea's troubled shipbuilder Hanjin Heavy Industries & Construction Co. This is part of a debt restructuring plan to rehabilitate HHIC-Phil Inc., a subsidiary of Hanjin Heavy that operates a shipyard in Subic Bay.Hanjin Heavy
Hanjin Heavy Industries & Construction Co., a midsized shipyard in South Korea, announced on Jan. 8 that its affiliate in Subic of the Philippines has filed for a rehabilitation program with a Philippine court due to a prolonged business slump.The Philippine court will decide within 120 days whether