News / The idea of an HMM merger with Hanjin is a 'half-baked rumour', says PR firm

© Vladimir Serebryanskiy

Rumours of a merger between troubled South Korean shipping groups Hyundai Merchant Marine (HMM) and Hanjin are “half-baked”, according to Hyundai Group’s PR firm.

The Loadstar was contacted today by the Seoul office of PR firm Weber Shandwick to “provide an accurate and fact-based state of affairs of HMM and its recovery plan”.

It said: “The merger between HMM and Hanjin Shipping is a half-baked rumour, as little synergy effect is expected due to their overlapped business fields.

“In addition, because both companies ...