The government, "sells HMM only when the right owner appears."
The government, "sells HMM only when the right owner appears."
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  • 승인 2022.11.04 09:19
  • 최종수정 2022.11.04 08:37
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This article is translated by AI company Flitto and Infostock Daily using neural machine translation technology.

 

Photo = HMM provided
Photo = HMM provided

Emphasizing the "importance of timing" of the sale of HMM, the government once again stressed its intention not to make bargain deals.

As the HMM's surplus in the third quarter is expected to decrease compared to other quarters, it is pointed out that it may have missed the right time for the sale, but it is interpreted as a willingness to keep the "substantial privatization principle."

"The Ministry of Maritime Affairs and Fisheries believes that the sale of HMM should look at various situations and move toward privatization in which Korean shipping companies find the right owner," Maritime Affairs and Fisheries Minister Cho Seung-hwan said at a press conference held on the 3rd.

He added that the Korea Maritime Promotion Agency's schedule for the sale of HMM by the end of 2025, which was raised during a recent parliamentary audit, is a self-review of state-run companies and not the official position of the Ministry of Oceans and Fisheries.

According to related industries, HMM's third-quarter sales are expected to be 4.612 trillion won and operating profit is expected to be 2.55 trillion won.

This is an increase of 14.8% and 12.3%, respectively, compared to sales and operating profit in the same period last year.

However, this is less than the first quarter (sales of 4.9187 trillion won, operating profit of 3.1486 trillion won) and second quarter earnings (sales of 5.34 trillion won, operating profit of 2.9371 trillion won). It is because of the international shipping fare that has been falling sharply recently. 

 

Reporter Ahn Ho-hyeon vicahh@infostock.co.kr


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