Korea's Financial Services Commission (FSC) has called for cooperation from all stakeholders as Hyundai Merchant Marine's (HMM) charter-cut talks continue.

The shipowner has so far failed to agree a deal to reduce the fees it pays to operate third-party ships.

But the financial watchdog said the company and main creditor Korea Development Bank (KDB) are doing their best to conclude negotiations.

"Therefore, the negotiations will be proceeding without being bound to a specific timeline," FSC confirmed.

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