Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Trump picks ex-N. Korea policy official as his principal deputy national security adviser

    Trump picks ex-N. Korea policy official as his principal deputy national security adviser
  2. 2

    S. Korea not to attend Sado mine memorial: foreign ministry

    S. Korea not to attend Sado mine memorial: foreign ministry
  3. 3

    First snow to fall in Seoul on Wednesday

    First snow to fall in Seoul on Wednesday
  4. 4

    Man convicted after binge eating to avoid military service

    Man convicted after binge eating to avoid military service
  5. 5

    Wealthy parents ditch Korean passports to get kids into international school

    Wealthy parents ditch Korean passports to get kids into international school
  1. 6

    Toxins at 622 times legal limit found in kids' clothes from Chinese platforms

    Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
  2. 7

    [Weekender] Korea's traditional sauce culture gains global recognition

    [Weekender] Korea's traditional sauce culture gains global recognition
  3. 8

    Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child

    Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
  4. 9

    BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'

    BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'
  5. 10

    Korea to hold own memorial for forced labor victims, boycotting Japan’s

    Korea to hold own memorial for forced labor victims, boycotting Japan’s
피터빈트

HHIC Holdings kicks off sale of 3 energy subsidiaries

By Korea Herald

Published : July 14, 2016 - 16:45

    • Link copied

[THE INVESTOR] Hanjin Heavy Industries and Construction Holdings on July 13 began the process of selling three energy-related subsidiaries.

The companies -- Daeryun Power, Byeollae Energy and Daeryun E&S -- are to be sold as a bundle, and the sale will be conducted by Mirae Asset Daewoo. 

Hanjin Heavy's Subic Shipyard Hanjin Heavy's Subic Shipyard

HHIC Holdings and Daeryun E&S each hold 29.17 percent and 50 percent in Daeryun Power and Byeollae Energy, respectively. Daeryun E&S, a gas supplier, is 100 percent owned by HHIC Holdings. Applications to enter the preliminary bidding process can be submitted until Aug. 4.

However, some in the industry have raised doubt on whether HHIC Holdings plans to go through with the sale. According to reports, it has hinted that the sale could be called off should its real estate in Incheon be sold off this year. The real estate sale would raise about 2 trillion won (US$ 1.75 billion) for the company, and make selling the three subsidiaries unnecessary.

By Choi He-suk (cheesuk@heraldcorp.com)

More from Headlines