HMM is accelerating its relocation efforts to Busan by finalizing a lease for a temporary office. The transfer of headquarters functions, including the CEO's office, is expected to begin in October. However, the specific teams and personnel moving to Busan have yet to be determined, presenting challenges ahead.
According to industry sources on August 5, HMM signed a lease agreement on July 31 for four floors of the DB Insurance building in Bujeon-dong, Busanjin-gu.
Earlier, HMM approved the relocation of its headquarters to Busan during its regular shareholders' meeting in April and completed the registration of the new headquarters address on June 20. With this lease agreement, HMM has secured the physical foundation for its move to Busan, allowing the relocation process to gain momentum.
The building HMM has chosen is a newly constructed DB Insurance office that was completed on August 2. It has a total floor area of 44,769.84 square meters, spanning from eight underground levels to 24 above ground. Located in the bustling Seomyeon area, it is directly connected to the Seomyeon subway station, enhancing accessibility.
As part of this agreement, the CEO's office and other Seoul-based teams will gradually relocate to Busan starting in October. However, the specific teams and personnel moving from Seoul to Busan have not yet been finalized. Given that discussions regarding government support and labor negotiations are still ongoing, the relocation is likely to occur in phases.
Industry analysts believe the scale of the move will not be substantial. Currently, HMM occupies nine floors in the Park One Tower in Yeouido, Seoul, housing about 1,000 employees. In contrast, the temporary office in Busan consists of only four floors. Considering that around 100 employees from HMM's sales and operations team in Busan will also be moving in, the capacity will be limited.
Meanwhile, the securing of the temporary office is expected to accelerate HMM's relocation efforts to Busan. As the transfer of the CEO's office begins in October, discussions regarding the scale of employee relocations and support measures are anticipated to intensify.
One industry insider noted, "Negotiations between labor and management are ongoing, but it is currently difficult to reach a concrete conclusion as the number of relocating personnel and government support measures have not been determined. Once the government support plan is established, discussions about the relocation will likely gain further momentum."
* This article has been translated by AI.
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