The Korean owner said HongKong fund Market Vantage would be buying KRW 57bn of the stock initially - 6.81m convertible preferred shares - to boostits finances. It will then acquire more in the second half of 2014.

Last week, HMM was linked to a move forsister company Hyundai Logistics.

It was said to be teaming up with Tokyofinancier Orix to take over part of the Hyundai Group’s stake.

The