News / HMM: no sale if the right buyer can't be found, says KDB chief

Korea Development Bank (KDB) chairman Kang Seog-hoon said yesterday that HMM would not be sold if none of the shortlisted bidders proves “suitable”.

At a National Assembly session, Mr Kang said KDB and the other major HMM stakeholder, Korea Ocean Business Corp, were selling around 57.87% of their shares, doing due diligence and hoped to name a preferred buyer next month.

And he said: “If there isn’t a qualified buyer, we won’t sell the company. Of course there is no reason to ...