The state lender is handing over KRW 200bn ($192.5m) as a loan in exchange for HMM’s 14.9% stake in financial services company Hyundai Securities.

KDB said the shares will be placed in a trust and it will seek a buyer for them before the end of the year.

HMM owns 22.4% of Hyundai Securities.

Reports earlier this year said HMM was considering selling its logistics business to raise money.