SEOUL: The chairman of Harim Group has expressed potential interest in reacquiring HMM Co., South Korea’s leading container shipping company, if it is placed back on the market for sale. This statement follows previous negotiations that did not result in a purchase earlier this year.
According to Yonhap News Agency, Harim Group, led by Chairman Kim Hong-kuk, was previously selected as the preferred bidder for HMM, but discussions stalled with the Korea Development Bank, the main creditor, over unresolved differences. The talks eventually collapsed in February. Despite this setback, Chairman Kim indicated a willingness to reconsider the acquisition if the opportunity arises, stating he would “review it again” should HMM be offered for sale once more.
The possibility of a future sale seems plausible as Oceans Minister Kang Do-hyung mentioned in March that his ministry is in talks with relevant authorities to potentially restart the sale process for HMM. The outcome of these discussions could influence Harim’s
decision, with Chairman Kim emphasizing that the government’s sincerity in facilitating the sale will be a critical factor in their renewed interest.