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HMM-operated container ship. (Photo courtesy of HMM) |
[Alpha Biz= Kim Jisun] Seoul, South Korea — Labor tensions at HMM are intensifying as the labor union warns of a general strike over the company’s potential relocation of its headquarters to Busan. The union claims the move is being pushed forward without proper consultation and poses serious risks to employee welfare and corporate competitiveness.
On December 4, the HMM chapter of the Korean Financial & Service Workers’ Union held a press conference near the presidential office in Yongsan, Seoul, declaring that it would “immediately enter a general strike posture” if the government and major shareholders proceed with the relocation plan unilaterally.
The union cited an external feasibility study which deemed all reviewed scenarios—including a full relocation, partial relocation, and minimal relocation—“inappropriate” due to anticipated declines in competitiveness and increased costs. The union criticized the proposed relocation as “political intervention in the management of a private company.”
Currently, all 800 land-based HMM employees have expressed opposition to moving to Busan, citing concerns about family separation, disruption of living arrangements, and overall deterioration in quality of life.
The union has vowed to use every available measure, including a general strike, legal action, and petitions for governmental audits, should the relocation be forced through.
The dispute is expected to deepen tensions among management, the government, and labor groups, as the union frames the issue as one directly tied to workers’ livelihoods.
Meanwhile, debate continues over potential HMM acquisition candidates Dongwon Group and POSCO Group.
A union representative stated that any buyer must guarantee job security, preservation of collective bargaining agreements, and a firm commitment not to relocate the headquarters. The representative added that corporate culture should be maintained or improved under new ownership.
Dongwon Group has been viewed cautiously due to concerns that it could leverage HMM’s own assets—cash or physical assets—as part of the acquisition process, and due to mixed perceptions of its corporate culture.
POSCO, on the other hand, is seen as an unlikely acquirer due to negative sentiment from both industry groups and the government. Sources also indicated that the Ministry of Oceans and Fisheries’ working-level consultative body (including KDB and Korea Ocean Business Corporation) is not inclined toward approving POSCO as a bidder.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
