The operating deficit for Hanjin is likely to be around KRW 34.9bn ($32.9m), according to FnGuide, based on estimates by three brokerages.

The loss for HMM could be KRW 17.8bn.

The companies have been selling assets to raise funds in recent months.

"They will not be able to break away from liquidity crunch unless their business improves," said Ryu Seung-hyup, a researcher at Korea Investors Service.

But