"Hanjin's plans are inadequate given the total amount of funds needed, and considering the proposed timing of Hanjin's infusion of funds, they lack conviction to normalize the company," Korea Development Bank Chairman Lee Dong-geol told a press conference. Shares in the shipping line plunged, ending down 24 percent. Hanjin Group, the country's 11th-largest conglomerate and parent of Korean Air Lines Co (KS: 003490 ), said it was disappointed in the banks' decision and would support the shipping industry even if Hanjin Shipping enters receivership. Unlike South Korea's shipbuilding industry, which includes the world's three-largest manufacturers, shipping liners are not huge employers, giving them less political clout. Creditors of troubled Daewoo Shipbuilding & Marine Engineering Co (KS: 042660 ), including KDB, last year pledged 4.2 trillion won ($3.77 billion) for the firm. Daewoo Shipbuilding is already controlled by KDB after an earlier bailout.