Hyundai Merchant Marine (HMM) has committed to take on 220 staff from bust compatriot Hanjin Shipping. The staff will come in waves, starting today and includes onshore and offshore staff. Hanjin, which declared bankruptcy at the end of last August, has laid off hundreds of staff in the intervening months.
HMM has been trying – and failing – to snap up assets of Hanjin.
HMM CEO, C.K. Yoo commented: “We acquire the best shipping workforce via 1:1 interviews. We will fully support Hanjin’s workforce to help them quickly adapt and adjust into HMM’s corporate culture and come into their own.”
Meanwhile, Hanjin Shipping was temporarily suspended from stock trading on Wednesday morning after the stock price soared four days in a row.
“Because the company is now considered dangerous for investors, the hike in its stock price could trigger a temporary suspension in trading,” a Korea Exchange monitoring official told local media.
“If the rise continues, the company will see more suspensions.”