HMM Reaches Labor-Management Deal on Headquarters Move to Busan; Oceans Minister Pledges Support

Oceans Minister Hwang Jong-woo delivers remarks at the launch ceremony of a shipbuilding-shipping co-growth strategy council in Seoul on April 28. [Photo by Yonhap]

HMM’s labor-management dispute over relocating its headquarters to Busan ended with an agreement, prompting the Ministry of Oceans and Fisheries to pledge full support for the move.

Oceans Minister Hwang Jong-woo attended the signing ceremony for the labor-management agreement on HMM’s headquarters relocation, held April 30 at the Kensington Hotel in Seoul’s Yeouido district.

HMM and its union had been in talks since the second half of last year but failed to reach a deal, and tensions recently escalated as the union warned of a possible strike. The sides ultimately produced an agreement after weighing concerns that a war in the Middle East could disrupt global logistics.

Under the agreement, HMM plans to hold an extraordinary shareholders meeting on May 8 and seek to amend its articles of incorporation to change the company’s registered headquarters location. It also agreed to proceed step by step with related procedures, including relocation registration.

“I deeply appreciate the decision by labor and management,” Hwang said, calling the agreement “a symbolic and hopeful message” for developing a maritime hub in the country’s southeast.

He added that the ministry “will provide maximum support” to ensure the relocation proceeds smoothly.

* This article has been translated by AI.

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