HMM’s onshore union said Tuesday it will take legal action and launch a general strike in April if the government and major shareholders push ahead with the move without an agreement with labor.
In a statement, the union said it believes the government and major shareholders could move to finalize the relocation through a sequence of steps: a March shareholders meeting, an April board meeting and a May extraordinary shareholders meeting to confirm amendments to the company’s articles of incorporation.
HMM’s largest shareholders are the Korea Development Bank and the Korea Ocean Business Corp., which hold 35.42% and 35.08%, respectively. To relocate the headquarters to Busan, HMM would need to amend its articles, which currently state the headquarters is in Seoul.
The union said major shareholders may appoint three outside directors seen as friendly at the March regular shareholders meeting, then pass a proposal at the April board meeting to amend the articles to change the headquarters location, and finalize it at the May extraordinary shareholders meeting.
“If the articles are changed while negotiations are under way, we will pursue legal action against the directors and seek an injunction to suspend the effect of the special resolution at the shareholders meeting or to block the relocation,” the union said.
The union also argued the relocation push is politically driven. It said the stated goal of strengthening shipping competitiveness has been sidelined and that the move is being rushed in connection with a political timetable in a specific region.
It said shipping companies base headquarters in the Seoul metropolitan area for management efficiency, citing access to information, talent recruitment and global networks, and warned a forced move that ignores industry realities would weaken competitiveness.
The union raised job-security concerns, saying the relocation would disrupt the lives of hundreds of employees and their families and, without sufficient consultation and measures, could lead to staff departures and organizational instability.
The union said it will begin phased actions. Starting March 11, it plans weekly rallies during commuting hours, followed by a March 26 news conference in front of the headquarters. On April 2, it plans a rally and union assembly to approve a general strike in front of Cheong Wa Dae Sarangchae. It said it is also considering increasing rallies to twice a week or daily depending on developments.
“If the government ultimately ignores workers’ right to make a living and the company’s autonomy, we will move into full-scale action including a general strike,” the union said, adding that responsibility for any management disruption and industrial losses would lie with the government.
The headquarters issue is being pursued in connection with the government’s plan to develop Busan as a “maritime capital.” With labor-management tensions rising, debate over whether, when and how the relocation would proceed is expected to continue.
* This article has been translated by AI.
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