Discussions underway to restart sale of nation’s top container shipper

Oceans Minister Kang Do-hyung said Thursday his ministry has been in discussions with relevant authorities with regard to restarting the sale process for HMM Co., Korea’s top container shipper.

Oceans Minister Kang Do-hyung speaks during a meeting in Seoul in this file photo taken March 6, 2024. [YONHAP]

Oceans Minister Kang Do-hyung said Thursday his ministry has been in discussions with relevant authorities with regard to restarting the sale process for HMM Co., Korea’s top container shipper.

“Discussions are underway with related ministries, regarding timing and methods,” Kang told reporters, when asked about HMM.

The remarks were compared with his comments made on March 7, when he said there were “no plans for now” to restart the sale of HMM.

Two state agencies — the state-run Korea Development Bank and the Korean Ocean Business Corp. — had talks with the Harim-JKL Partners consortium since it was picked as the preferred bidder in late December.

The negotiations, however, ended in vain in early February as both sides failed to iron out differences over some issues.

Yonhap