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The Korean container ship HMM Stockholm is loaded at the loading terminal Burchardkai in the harbour in Hamburg, Germany, on April 3. [REUTERS/YONHAP]

DP's Lee proposing moving shipping giant HMM to Busan

The shipping industry is abuzz after Lee Jae-myung, presidential candidate of the Democratic Party, proposed relocating the headquarters of HMM, whose primary shareholders are government-affiliated entities, to Busan.

2025.5.16

The Korean Development Bank headquarters in Yeouido, western Seoul, on Jan. 11, 2024. [JANG JIN-YOUNG]

KDB to sell part of Hanwha Ocean stake as shipbuilding booms

The Korea Development Bank (KDB) is selling part of its stake in Hanwha Ocean, as the price of Hanwha Ocean stocks has more than tripled, driven by a boom in the shipbuilding industry.

2025.4.29

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Korea Development Bank Chairman and CEO Kang Seog-hoon speaks during a press conference held at the bank's main branch in western Seoul on Tuesday. [NEWS1]

KDB calls for doubling limit on capital to fund industrial support program

The Korea Development Bank has urged policymakers to raise the legal cap on its capital stock to 60 trillion won to facilitate a 100 trillion won industrial support program.

2024.6.11

A pedestrian walks past a halted construction site of Taeyong E&C in Jungnang District in eastern Seoul on January 23. [YONHAP]

KDB proposes capital reduction to support Taeyoung's debt restructuring

The state-run Korea Development Bank (KDB) will likely conduct a massive capital reduction held by the builder's major shareholders to support the troubled builder's debt restructuring.

2024.4.16

Dongwon, Harim Group bid for HMM, reports say

Dongwon and Harim Group participated in a bid to acquire container shipper HMM, according to media reports on Thursday, paving the way for the deal that could fetch up to 7 trillion won ($5.4 billion).

2023.11.23

Germany's Hapag-Lloyd fails to make HMM acquisition shortlist

Hapag-Lloyd, a German shipping company, has failed to make the shortlisted bidders for the acquisition of HMM, a decision reflecting concerns surrounding the sale of the country's largest shipping firm to a foreign entity.

2023.8.30

All Iranian funds in Korea unfrozen as part of prisoner deal

Iran's chief banker said on Saturday that all Iranian funds frozen in Korea had been unblocked and would be used for non-sanctioned goods, according to a report from Reuters.

2023.8.13

Korea Development Bank Chairman Kang Seog-hoon speaks at a press conference held to celebrate his first anniversary in the office in Yeouido, western Seoul, on Tuesday. [KDB]

KDB betting on Korean Air-Asiana merger success

Korea Development Bank (KDB) does not have an alternative for Korean Air Lines’ acquisition of Asiana Airlines, even if the deal potentially doesn’t go through.

2023.6.20

Cho Seung-hwan, minister of oceans and fisheries, speaks at a parliamentary hearing on Thursday. [NEWS1]

HMM to be 'privatized' if market condition allow for it

The Ministry of Oceans and Fisheries said there is a plan to "privatize" HMM but timing will depend on market conditions.

2022.10.6

DSME shipyard in Geoje, South Gyeongsang. [YONHAP]

Hanwha chosen as preferred bidder for 49.3 percent of DSME

Hanwha Aerospace will be investing 1 trillion won ($698 million) for half of the 49.3 percent stake in the company. Hanwha Systems will be investing 500 billion won, Hanwha Impact Partners, a fund, 400 billion won and Hanwha Energy 100 billion won.

2022.9.26