August 6 - The chief executive of STX Pan Ocean Co, Duk Soo Kang has resigned.

The embattled company has announced that the new composition of its Board of Directors is Chun Il Yu (deputy president and chief executive officer and executive director; Dong Moo Choi (independent director); Yun Jae Baek (independent director)  and Joon Woo Han (independent director).

The shipping company has been under court receivership since June amid a deepening liquidity crisis.