The Seoul Central District Court said in a statement that it made the decision as the firm's liquidation value would be worth more than its value as a going concern.

Hanjin Shipping, which had been the world's seventh-largest container shipper, applied for court receivership in late August after its creditor banks halted further support.

Swiss shipping group MSC said on Wednesday its unit has bought a stake in Hanjin Shipping's U.S. port operator, the latest Hanjin asset to be sold.

(Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)