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HMM container vessel (Photo courtesy of HMM) |
[Alpha Biz= Kim Jisun] SEOUL, October 27, 2025 — POSCO Holdings Inc. said it has made no further progress regarding a potential acquisition of South Korean shipping company HMM Co., Ltd., reaffirming that discussions remain at an early review stage.
During its third-quarter earnings conference call, POSCO Holdings stated:
“We have twice disclosed that the possible HMM acquisition is under preliminary review and that no decision has been made regarding participation. As of today, there have been no new developments.”
The company added that cash generated from restructuring efforts is currently being allocated toward organic growth investments without leverage, as well as converting non-earning assets into productive ones and adjusting its portfolio for profitability.
POSCO Holdings also confirmed that losses from the April construction collapse at the Shinansan Line project in Gwangmyeong have been partially reflected in third-quarter earnings.
“We recognized the full estimated loss amount in Q3,” the company explained. “Approximately ₩230 billion in additional provisions will be set aside in Q4, completing all one-off charges within this year and enabling a return to normal operating levels in 2026.”
The accident occurred in April 2025 at a tunnel site built by POSCO E&C, resulting in the death of one construction worker. The company immediately halted construction and conducted an emergency safety inspection of all related sites.
Looking ahead, POSCO Holdings reiterated its commitment to hydrogen-based steelmaking (HyREX) and outlined clear priorities for future overseas investments, emphasizing technology development and sustainability-led growth.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
