ShippingWatch

State bank becomes HMM's largest shareholder

Korea Development Bank has agreed to converte Hyundai Merchant Marine's debt into share capital. The bank thus becomes the major shareholder in the crisis-stricked South Korean carrier.

Photo: Hyundai Merchant Marine

South Korean state-owned bank Korea Development Bank (KDB) will become majority shareholder in Hyundai Merchant Marine (HMM).

Korea Joongang Daily reports that the bank has agreed to convert the company's debt to share capital in an attempt to rescue the struggling carrier.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs