That would be a smart move, at least politically if not economically. People have been wary of large bailouts since 2008. The Chaebol family that owns Hanjin i

That would be a smart move, at least politically if not economically. People have been wary of large bailouts since 2008. The Chaebol family that owns Hanjin is especially unpopular in Korea, due to a widely publicized incident where one of their daughters threw a tantrum on board an international flight and made it return to the gate. The President of South Korea cannot afford to make any move that would hurt her (already rather low) popularity rating. She needs to throw Hanjin under the bus if she wants her party to have a chance in next year's election. Besides, the government is too busy trying to rescue the shipbuilding industry, which is worth much more to the Korean economy, to babysit a shipping company.