SM Group is not planning to acquire stake in Hanjin Shipping Co., Ltd. (KOSE:A117930). An industry source stated that withdrawn its plan for a potential bid for Hanjin Shipping. As SM Group abandoned its status as the preferred bidder on a 54% stake in Hanjin Shipping, the bidder pool has narrowed to two. The two other bidders are a consortium of Hyundai Merchant Marine Co.,Ltd. (KOSE:A011200) and MSC Mediterranean Shipping Company S.A., and a Korean private equity fund.