Ministry of Oceans and Fisheries, "No Current Plans to Resell HMM"

Kang Do-hyung, Minister of Oceans and Fisheries, stated on the 7th that "there is currently no plan for the resale of HMM (formerly Hyundai Merchant Marine)."

Kang Do-hyung, Minister of Oceans and Fisheries, is attending the Price-Related Ministers' Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 6th, making remarks related to prices. Photo by Jo Yong-jun jun21@

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Minister Kang made this remark in response to a question about the sale of HMM during a briefing at the Government Seoul Office held for a public livelihood discussion. He said, "Since HMM is a company funded by the national treasury, I can only say that plans are being made to ensure it operates soundly."

Negotiations for the sale of HMM between the Korea Development Bank, the Korea Ocean Business Corporation, and the Harim Group were finally broken off on the 6th. Accordingly, HMM will remain under creditor management for the time being. The Korea Development Bank and the Korea Ocean Business Corporation are expected to review HMM's internal situation and the global shipping environment and proceed with the resale of HMM at an appropriate time in the future.

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