San: "Rumors of POSCO Selling HMM Are Groundless"
[Asia Economy Reporter Park Sun-mi] KDB Industrial Bank denied reports that it is pursuing a plan to sell HMM (formerly Hyundai Merchant Marine) to POSCO.
On the 27th, KDB Industrial Bank issued a clarification regarding media reports that it is pushing for the sale of HMM to POSCO, stating, "The Industrial Bank has not reviewed any plans related to the sale of HMM," and requested, "Please exercise caution in reporting."
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On the same day, a domestic media outlet reported that KDB Industrial Bank, the largest shareholder of HMM, plans to privatize the company by transferring all its shares to POSCO. The newspaper stated that the Industrial Bank recently reported the HMM privatization plan to the Ministry of Economy and Finance, and that the ministry, along with relevant departments, is expected to begin a full-scale review.
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