Kim Hong-guk, Chairman of Harim, "Acquisition of HMM Strengthens Value Chain... Contributes to Enhancing National Competitiveness"
Kim Hong-guk, Chairman of Harim, indicated on the 1st that the participation in the HMM (formerly Hyundai Merchant Marine) acquisition bid is aimed at strengthening the value chain, stating, "Strengthening the value chain contributes to enhancing national competitiveness."
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2023110115072636986_1698818861.jpg)
Before a press conference for the launch of a new brand held at CGV Cheongdam Cine City in Gangnam-gu, Seoul, Chairman Kim told reporters, "(Strengthening the value chain) is beneficial for us and also important for strengthening national competitiveness." He also commented on the company that will acquire HMM, saying, "It will be done by whoever can manage it well going forward."
The Korea Development Bank and other sellers of HMM previously shortlisted three qualified bidders: Dongwon Industries, the Harim-JK Partners consortium, and LX International, and have been conducting due diligence since September 6. The sellers have announced plans to select a preferred bidder through a final bidding process this month and complete the sale of HMM within the year. However, there are concerns in the industry that all three candidates may find it difficult to acquire HMM with their own resources.
Meanwhile, regarding the recent controversy over bugs found in Harim brand fresh chicken, Chairman Kim explained, "Foreign substances should not be present, but an error occurred during the process where the machine removes the crop."
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The Ministry of Food and Drug Safety previously received reports of a large amount of foreign substances resembling bugs found in Harim animal welfare fresh chicken and has requested Harim to establish measures to prevent recurrence. Additionally, Jeongeup City in Jeonbuk Province conducted an investigation of Harim’s production plants and confirmed that the foreign substances were larvae of gall midges and insects.
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