Hyundai Merchant Marine Co. South Korea’s second-largest sea cargo carrier, led gains among shares of Hyundai Group companies after the conglomerate said it plans to sell assets to raise 3.3 trillion won ( $3.1 billion ). Hyundai Group , with businesses from shipping to stock broking, will sell Hyundai Securities Co. , two other financial units, and a hotel to raise as much as 1.3 trillion won . Hyundai Merchant plans to raise about 1.5 trillion won selling stakes in container terminals and restructuring its bulk-cargo operations, the group said. Shares of Hyundai Merchant jumped the most in more than six months in Seoul trading last week as Hyundai Group followed Hanjin Group , which owns Korean Air Lines Co. , in announcing plans to sell assets to boost cash. South Korea’s three biggest shipping companies face a cash crunch as 3 trillion won of bonds are due for repayment in the next two years amid mounting losses from a global slump in rates to carry sea cargo. Hyundai Group will focus on its shipping, logistics and machinery businesses along with North Korea tourism operations for further growth. Hyundai Merchant plans to sell a container-box yard in South Korea as well as real estate it owns in the US, China and Singapore.
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