Privatisation process gets underway at HMM

State-run Korea Development Bank and Korea Ocean Business Corp are now proceeding with the privatisation of HMM, South Korea’s flagship carrier.

The two companies own around 40% of HMM, which was bailed out by the state seven years ago during a container downturn.

The two firms are in the process of selecting a consulting group to carry out the sale of HMM, the world’s eighth largest carrier, which is on the cusp of breaking through the 1m slot mark when its newbuilds deliver.

Among local firms tipped to make bids for HMM are Hyundai Motor and SM Line.

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