News / Government will dispose of HMM stake in controlled moves, says KDB chief

Lee Dong-gull Source KDB

As momentum builds towards the South Korean government’s inevitable sale of its stake in flagship liner operator HMM, Korea Development Bank chairman Lee Dong-gull warned the process must be gradual.

Mr Lee’s statement yesterday came less than a month after vice-minister of oceans and fisheries Eom Ki-doo told journalists the government hoped to find a buyer by the end of March 2022.

With over 44% of HMM’s stock, the government is the controlling shareholder, and its interest is held through KDB and ...