News / South Korean industry groups slam Hapag-Lloyd bid for HMM

The Federation of Korea Maritime Industries (FKMI) and the Busan Port Development Association (BPDA) have come out against German liner operator Hapag-Lloyd being allowed to bid to buy HMM.

They say that, “from the perspective of the national economy and security”, foreign control of South Korea’s flagship container carrier must be prevented.

The two organisations yesterday accused the government of being “unaware of shipping’s importance to the country”.

Korea Development Bank (KDB) and Korea Ocean Business Corp, which hold nearly 40% of HMM’s ...