News / Shipping experts in Korea say HMM buyer must have 'deep pockets'

South Korean shipping experts have questioned the suitability of the three competitors to buy HMM.

At a panel discussion, How should we sell HMM, and what is the best privatisation solution?, organised by the Korea Sea Journalists Association yesterday, Harim-JKL, Dongwon Group and LX International were deemed “mid-sized” and lacking the capital required to purchase the controlling stake in HMM.

The state took control of HMM after swapping debt for equity in 2016, the shares held by Korea Development Bank (KDB) and ...