Hyundai Merchant Marine (HMM) has agreed to buy a 20% stake in Hanjin Shipping's US terminal companies.
It will spend $15.6m on shares in Total Terminals International (TTI) and equipment-leasing firm HTEC, making it the second-biggest shareholder in TTI after MSC, which is buying the rest.
The Korean company said it would receive the same port rates as MSC, allowing it to cut costs.
