South Korea's largest shipping company, HMM, held a ceremony to unveil its new headquarters in Busan, marking the beginning of a new era for the company. This event comes approximately five months after labor and management reached an agreement to relocate the headquarters in late April.
On October 13, HMM announced the opening ceremony at its new office in Bujeon-dong, Busan. Attendees included President Lee Jae-myung, Minister of Oceans and Fisheries Hwang Jong-woo, Busan Mayor Jeon Jae-soo, Industrial Bank of Korea Chairman Park Sang-jin, Korea Maritime Promotion Corporation President Ahn Byeong-gil, and HMM President Choi Won-hyuk, along with other invited guests and employees.
The decision to move HMM's headquarters to Busan was made to support national balanced development and strengthen regional decentralization, following an agreement between labor and management in late April. After changing the company’s articles of incorporation at a special shareholders' meeting in May, the relocation was completed, and a lease was signed in July for four floors of the DB Insurance building near the Seomyeon subway station in Busan. Following interior renovations and the transfer of employees, HMM officially began operations in Busan after five months.
Choi Won-hyuk expressed optimism about the move, stating, "We expect to create synergies with Busan, which has a well-established shipping and logistics infrastructure. Additionally, we will strive to become a global top-tier shipping company through proactive investments based on our mid- to long-term strategy for 2030."
With this relocation, HMM, the country's leading shipping company, anticipates improved operational efficiency as the new office will house the CEO's office, Busan sales operations, and maritime affairs in one location.
Initially, 120 employees will work at the new Busan headquarters, with plans for further personnel transfers in the future. HMM also aims to construct a landmark building in Busan's North Port.
Meanwhile, HMM recently announced its mid- to long-term strategy for 2030, which includes an investment of 29 trillion won to expand its fleet to 1.47 million TEU (166 vessels) in container ships and 13.52 million DWT (110 vessels) in bulk carriers.
In the container sector, HMM plans to strengthen its network of long-distance and coastal routes based on a hub-and-spoke model, while in the bulk sector, it aims for stable growth and profitability through long-term contracts.
An HMM representative stated, "We will build a stable business portfolio by enhancing our competitiveness in container, bulk, and port infrastructure, while also achieving sustainable growth based on eco-friendliness and digital transformation."
* This article has been translated by AI.
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