HMM Reports Record Profits, Prompting Renewed Reports of Privatization

South Korea’s HMM reported record profits for 2021 more than offsetting nearly a decade of losses and immediately prompting renewed speculation that the government will proceed with the privatization of the country’s largest container shipping company. The shipping line, whose profits were only exceeded so far for 2021 by companies including Samsung and PSCO as the largest in the country, has been controlled by the Korea Development Bank and Korea Ocean Business Corporation for nearly six years after they saved the then Hyundai Marine from bankruptcy.

View entirety: Maritime Executive