Hanjin faces a liquidity shortfall of roughly $1 billion through the end of next year, and creditors want the company to handle at least $650 million through restructuring and stock sales before they begin to contribute. The government has urged the affiliated Hanjin Group to contribute as well. In the event that Hanjin cannot meet the deadline, Yim said that regulators would deal with any fallout on the basis of "principles." Yim's comments on Hanjin contrasted with his remarks later in the press conference, when he said that the government remained committed to restructuring efforts at the nation's Big Three shipbuilders. Hanjin already received an extension from creditors allowing it an extra month to put a "self-rescue" plan together, but it has struggled to secure a critical reduction in charter rates on more than 90 chartered-in vessels. It says that it needs a 30 percent rate cut; one owner, Seaspan, says that the carrier already owes more than $10 million in missed charter payments.