IN BRIEF (Page 8)

SOUTH KOREA

Shipping giant declared bankrupt

The axe finally fell on South Korea's once-mighty Hanjin Shipping on Friday as a Seoul court declared the company bankrupt after struggling for years under the weight of billions of dollars of debt. Hanjin filed for bankruptcy protection in August owing $5.37 billion and creditors refused to bail it out, with dozens of its vessels stranded around the world after being refused entry to ports. Hanjin was once South Korea's largest shipping firm and the seventh-largest in the world.