News / Seoul government to launch search for HMM buyer next year

HMM Algeciras, the first 24,000 teu ship delivered to the line. Credit HMM

By the end of Q1 22, a roadmap to sell the South Korean government’s stake in flagship liner HMM will be unveiled, vice-minister for oceans and fisheries Eom Ki-doo said on Tuesday.

Mr Eom said the ministry had begun a search for a potential buyer, with the Financial Supervisory Service, Korea Development Bank (KDB) and Korea Ocean Business Corporation (KOBC).

KDB and KOBC, both state-backed policy lenders, are HMM’s largest shareholders, with a combined stake of nearly 45%.

However, KDB chairman Lee Dong-gull said ...