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Privatisation process gets underway at HMM

Photo of Sam Chambers Sam ChambersMarch 3, 2023
2,215 Less than a minute
HMM

State-run Korea Development Bank and Korea Ocean Business Corp are now proceeding with the privatisation of HMM, South Korea’s flagship carrier.

The two companies own around 40% of HMM, which was bailed out by the state seven years ago during a container downturn.

The two firms are in the process of selecting a consulting group to carry out the sale of HMM, the world’s eighth largest carrier, which is on the cusp of breaking through the 1m slot mark when its newbuilds deliver.

Among local firms tipped to make bids for HMM are Hyundai Motor and SM Line.

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Photo of Sam Chambers Sam ChambersMarch 3, 2023
2,215 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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