News / SM Line chief eyes IPO revival by 2024 – but no ambitions to acquire HMM

Park Kee-hoon. Photo: SM Line

Flush with cash, South Korean liner operator SM Line has decided it would be more fruitful to invest its excess funds in its larger compatriot rival, HMM, than to leave the money in the bank to earn meagre interest.

Yesterday, SM Line CEO Park Kee-hoon said: “We recorded an operating profit of KRW1.82trn ($1.53bn) last year and more than KRW750bn ($581.85m) in the first half of this year, which is a situation where we have a lot of cash. The board ...