Kim Kyung-bae, HMM CEO, Challenges Global Top Tier... Over 15 Trillion Won Investment in 5 Years

HMM Holds 'Mid-to-Long-Term Strategy Briefing'
Expansion to 1.2 Million TEU by 2026

[Asia Economy Reporter Kiho Sung] Kim Kyung-bae, CEO of HMM, announced a mid-to-long-term strategy on the 14th, including an investment of more than 15 trillion KRW over five years, to diversify business for future growth and to leap forward as a global top-tier shipping and logistics company.

On the same day, CEO Kim held a mid-to-long-term strategy briefing at the Yeouido headquarters and shared these plans. About 100 HMM executives and employees, including CEO Kim, attended the briefing.

The main points include expanding the container ship capacity to 1.2 million TEU (1 TEU is one container approximately 6 meters long, currently 820,000 TEU) by 2026, and increasing the bulk fleet to 55 vessels (currently 29 vessels), a 90% expansion. Additionally, over the five years from this year to 2026, more than 15 trillion KRW will be invested focusing on core assets such as ships, terminals, and logistics facilities.

Regarding the background of this strategy formulation, HMM explained that due to uncertainties in the global shipping market and rapidly changing business environments such as environmental regulations and digital transformation, the company is preparing for the future as a national shipping company and establishing a solid growth foundation.

The specific execution strategies include ▲ container ship and bulk ship business strategies ▲ environmental response strategies according to changes in environmental regulations ▲ digital strategies to accelerate digital transformation ▲ organizational capability enhancement strategies to improve competitiveness ▲ investment and financial strategies based on business strategies.

Accordingly, HMM established the mission of becoming a company that leads customers, employees, and green growth under the vision of “a global leading company creating sustainable value for the world.” Furthermore, it announced plans to strengthen Environmental, Social, and Governance (ESG) management and fulfill its role for the growth and development of the global community. To implement ESG management, HMM will establish a dedicated organization for executing ESG strategies and actively pursue goals in each ESG field by 2025.

CEO Kim stated, “This mid-to-long-term strategy is an investment in related businesses to survive and continue growth as a global shipping and logistics company in the future,” adding, “As a national shipping company, we will fulfill our responsibilities and continue to make multifaceted efforts to advance as a global community member.”

This content was produced with the assistance of AI translation services.