South Korean state may prefer bigger stake in cash-rich HMM to a sale
The South Korean state could increase its stake in HMM to 72%, as the country’s ...
Interesting news from South Korea this morning: BusinessKorea reports that the state-owned Korea Development Bank, which became the largest shareholder in container shipping line HMM after its restructure in 2017, intends to sell its 12.6% stake to South Korean steel manufacturing giant POSCO. Which would possibly make for a fascinating example of vertical integration, given POSCO’s enormous logistics spend. “If POSCO directly jumps into the shipping industry, it is expected to save POSCO trillions of won annually, as the company ...
Comment on this article