HMM Busan Relocation Debate: Busan Chamber’s Maritime Hub Vision vs Union Pushback

President Lee Jae-myung’s pledge to relocate HMM’s headquarters to Busan is drawing attention. the Busan Chamber of Commerce sees it as a chance to boost the city’s maritime logistics hub status.

HMM, Korea’s largest container shipping company, has 77% of its shares held by government and public entities. Relocating to Busan could create jobs and energize maritime finance through synergy with Busan Port. Busan Chamber Chairman Yang Jae-saeng has rallied support from HMM’s seafarers’ union.

Yet, HMM’s land-based union strongly opposes the move. On June 4, it condemned the plan as political interference undermining corporate autonomy, vowing to resist. Concerns over Seoul-based workers’ livelihoods also surfaced.

President Lee insists that as a private firm with public backing, relocation is feasible. The Busan Chamber suggests keeping sales teams in Seoul while moving key functions to Busan. Dialogue between the government and unions is critical.

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