News / South Korean government should sell its HMM shares in stages

Cho Seung-hwan. Credit: President Yoon Suk-yeol’s transition committee

South Korea’s minister of  oceans and fisheries, Cho Seung-hwan, has said the government should release its holding in HMM in phases to facilitate a smooth handover of the country’s flagship carrier to the private sector.

He appears to be reversing his previous opinion that it was not the right time for the state to sell its HMM shares, and has told President Yoon Suk-yeol that the company has regained its footing and the state should not wait.

Including convertible bonds, the state’s ...