News / Anger in Europe as state subsidies for South Korean carrier HMM soar

09/10/2018

State-owned Korea Ocean Business Corporation (KOBC) has, reportedly, signed off on some W6.15trn ($5.4bn) of new funding for the country’s biggest ocean carrier, Hyundai Merchant Marine (HMM) – but much of this cash will be needed to cover continued operations.

KOBC, launched in July this year to ...

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