President Lee Thanks HMM Labor-Management Deal to Move Headquarters to Busan

Officials and union leaders pose for a photo at an event announcing HMM’s labor-management agreement to relocate its headquarters to Busan, held April 30 at the Kensington Hotel in Yeouido, Seoul. From left: Oceans and Fisheries Minister Hwang Jong-woo; Jung Sung-chul, head of HMM’s land workers union branch; HMM CEO Choi Won-hyuk; Lee Jae-jin, chair of the National Office and Financial Services Union; and Kim Hyung-jun, a division head at the Korea Ocean Business Corp. (Yonhap) — Officials and union leaders pose for a photo at an event announcing HMM’s labor-management agreement to relocate its headquarters to Busan, held April 30 at the Kensington Hotel in Yeouido, Seoul. From left: Oceans and Fisheries Minister Hwang Jong-woo; Jung Sung-chul, head of HMM’s land workers union branch; HMM CEO Choi Won-hyuk; Lee Jae-jin, chair of the National Office and Financial Services Union; and Kim Hyung-jun, a division head at the Korea Ocean Business Corp. [Photo=Yonhap]

President Lee Jae-myung said the government would provide needed support after HMM’s management and labor agreed to relocate the company’s headquarters to Busan.

Lee wrote on X on the afternoon of April 30 that “the government will not spare the necessary support so that HMM can establish itself as a global shipping company.”

He thanked both sides for “continuing difficult negotiations,” adding, “Above all, I express my deep gratitude to HMM employees for making a decision for the greater good.”

Lee said he hoped the agreement would help strengthen South Korea’s shipping competitiveness and contribute to balanced regional development. He also said he trusted the parties would continue “constructive discussions” and complete the relocation smoothly.

HMM’s management and labor signed an agreement that day to move the headquarters to Busan. The relocation is part of Lee’s campaign pledge to foster a “southeastern maritime capital region.” HMM said the scale and timing will be finalized through further labor-management talks.

* This article has been translated by AI.

Kim Bongcheol