Ailing Korean shipper Hanjin moves to resolve cargo chaos

SEOUL, South Korea (AP) — Financially troubled Hanjin Shipping Co. will seek stay orders in dozens of countries this week to help minimize disruptions caused by its slide into bankruptcy proceedings, the Financial Services Commission said Monday.

The measure is aimed at "minimizing the cases where Hanjin Shipping's vessels are being seized in foreign countries," South Korea's government said in a statement jointly released by several ministries and commissions.

The South Korean giant represents nearly 8 percent of the trans-Pacific trade volume for the U.S. market, and with Hanjin's container ships marooned offshore, major retailers were scrambling to work out contingency plans to get their merchandise into stores.