President Lee Jae-myung said Sunday that the agreement between HMM's management and labor union to relocate the shipping company's headquarters to Busan will help strengthen Korea's maritime industry competitiveness and contribute to balanced regional development.
"I hope this will serve as an opportunity to enhance the competitiveness of our country's shipping industry and contribute to balanced regional development," Lee said, referring to the decision by the nation's largest shipping company.
"Both labor and management have worked hard through difficult negotiations. Above all, I extend my deep gratitude to HMM's executives and employees who made a broad-minded decision," Lee wrote on X, formerly Twitter.
The president added that "the government will spare no necessary support to help HMM establish itself as a world-class shipping company." He also said, "I trust that you will continue constructive discussions and smoothly complete the relocation."
HMM announced the same day that it had decided through a labor-management agreement to relocate its headquarters from Seoul to Busan. The company will first move the CEO's office and proceed with the relocation in phases in accordance with the labor-management agreement.
