Korea Joongang Daily
Korea JoongAng Daily

HMM to invest 23.5 trillion won in bid to become green shipping giant

HMM, Korea’s largest container shipper, announced plans to invest 23.5 trillion won ($17.5 million) by 2030, with 14.4 trillion won dedicated to environmentally friendly facilities to bolster the company's efforts to become a green shipping giant.

2024-09-10

Shipping firm HMM deploys new carbon capture system on vessels

HMM, Korea’s largest container shipper, deployed new proprietary technology in the voyage of 2,200 TEU (twenty-foot equivalent unit) container ships, aimed at reducing greenhouse gas emitted during ship operations.

2024-07-02

KDB calls for doubling limit on capital to fund industrial support program

The Korea Development Bank has urged policymakers to raise the legal cap on its capital stock to 60 trillion won to facilitate a 100 trillion won industrial support program.

2024-06-11

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.

2024-03-14

Oceans Ministry says there are no plans to sell state-backed HMM

The Oceans Ministry said there are no plans to resell the nation's largest container shipper after an acquisition by Harim fell through.

2024-03-07

Harim's $4.9 billion HMM acquisition off after sides fail to reach deal

Negotiations for the 6.4 trillion won ($4.9 billion) sale of Korea's largest shipper, HMM, to local poultry processor Harim, have collapsed after seven weeks of talks failed to yield an agreement on acquisition terms.

2024-02-07

Deadlock looms over $4.9 billion HMM sale as negotiation deadline nears

The once-delayed 6.4 trillion won ($4.9 billion) sale of HMM faces a deadlock as primary creditors and the preferred bidder — a consortium of Harim and JKL Partners — remain at odds over acquisition conditions ahead of Tuesday’s negotiation deadline.

2024-02-05

HMM takeover talks with Harim delayed over final details

Negotiations on the takeover of HMM, Korea's largest shipping company, by preferred bidder Harim and HMM’s primary creditors have been delayed by two weeks.

2024-01-23

HMM deploys more vessels in Europe to ease Red Sea shipping crisis

HMM, Korea's largest shipping company, will deploy four temporary vessels on its European and Mediterranean routes in response to the Red Sea shipping crisis fueled by ongoing attacks from Houthi militia in Yemen.

2024-01-10

Harim vows to use HMM reserves to grow maritime industry

The poultry-focused food group explained that HMM's reserves will be used for the growth of Korea's maritime industry, denying speculation that Harim could use the proceeds for its own business.

2023-12-26