[Infostock Daily=Reporter Lee Ji-sun] KDB Industrial Bank explained that it is not true about the report that it is planning to sell HMM (formerly Hyundai Merchant Marine) to POSCO.
The Korea Development Bank said in a press release on the 27th, "We have not reviewed the sale of HMM.".
The move came after a media outlet reported earlier that it would push to privatize HMM by handing over the entire stake held by KDB, HMM's largest shareholder, to POSCO. The Korea Development Bank is the largest shareholder with a 12.61% stake in HMM.
The report said the Korea Development Bank is in negotiations as POSCO is showing a strong willingness to enter the shipping industry, including considering establishing a logistics subsidiary last year.
Reporter Lee Ji-sun stockmk2020@gmail.com
