Reuters: Hot Stocks: REFILE-Korea Hot Stocks-Hanjin jumps on Korean Air split talk

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REFILE-Korea Hot Stocks-Hanjin jumps on Korean Air split talk Mar 19th 2013, 01:01 Mon Mar 18, 2013 9:01pm EDT (Corrects spelling of "percent" in first paragraph) SEOUL, March 19 (Reuters) - South Korea's main KOSPI share index was up 0.4 percent at 1,976.48 points as of 0042 GMT. The index opened up 0.5 percent. Stocks on the move on Tuesday include: **HANJIN TRANSPORTATION CO ** Hanjin Transportation jumped 4 percent on reports that parent Hanjin Group was looking to simplify the complex cross-shareholding structure of its affiliates. Local newswire Money Today reported on Tuesday that Hanjin Group had approached brokerages about splitting up Korean Air into two entities, one that operates the flag carrier, and another that acts as a holding company. A spokesman for Korean Air told Reuters that Hanjin Group is considering splitting up Korean Air to resolve the group's ownership structure, but nothing has been confirmed yet. Hanjin Transportation is considered to be the de-facto parent company of the Hanjin Group. Lee Sang-hun, an analyst at HI Investment & Securities, told Edaily, a local news service, that Hanjin will likely sell its 9.6 percent stake in Korean Air should the split take place, bolstering its finances. Korean Air was trading barely up at 0.24 percent. (Reporting by Somang Yang and Joyce Lee; Editing by Sunil Nair) Link this Share this Digg this Email Reprints

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