Hyundai Heavy Industries has secured a KRW 200bn ($178m) payday after selling its interest in Hotel Hyundai.

Private equity group Hahn & Co, an active shipping investor, has bought the shipyard’s shares, a statement said.

According to Korean publication Pulse, HHI has now sold KRW 1 trillion in assets this year.

HHI is seeking to offload KRW 3.5 trillion worth of non-core assets and has raised 400bn via the issue of shares in Hyundai Samho Heavy Industries.