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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Korea Development Bank (KDB) Chairman Park Sang-jin said Tuesday that the sale of HMM, the country’s largest container shipping line, will be pursued only after the company relocates its headquarters to Busan.
Speaking at a press briefing held at KDB’s headquarters in Yeouido, Seoul, Park said, “We plan to move forward with the sale of HMM after completing the relocation of its headquarters to Busan,” adding that the relocation should be treated as a prerequisite.
The remarks follow comments by Lee Jae-myung, who said on social media on March 19 that the relocation of the Ministry of Oceans and Fisheries, the establishment of a maritime international commercial court, the creation of a southeastern investment corporation, and the relocation of HMM would be carried out in succession. Lee had also pledged during his presidential campaign to relocate both the ministry and HMM to Busan.
Park said KDB will formulate a detailed strategy for the eventual sale of HMM after consultations with relevant agencies, including the Ministry of Oceans and Fisheries and the Korea Ocean Business Corporation.
KDB currently holds a 35.42 percent stake in HMM, while the Korea Ocean Business Corporation owns 35.08 percent.
“When selecting a potential buyer, we need to consider what role HMM should play in the future as a national carrier,” Park said. “Since the sale is closely tied to industrial policy, adjustments will need to be made in line with broader policy considerations.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
