News / 'Winner's curse'? Harim aims to turn HMM into a top-five box line

Harim Group chairman Kim Hong-kuk has ambitions to grow HMM into one of the world’s five largest shipping companies, after his group was preferred to take over South Korea’s flagship carrier.

Yesterday, Mr Kim said South Korea needed a shipping giant that could compete with the more established international shipping groups.

He emphasised Harim’s experience in achieving profitability at the country’s largest dry bulk shipping company, Pan Ocean, after acquiring it from reditor banks in 2015. And with Harim Group’s cash holdings ...