HMM’s labour union has dropped its opposition to President Lee Jae-myung’s bid to relocate South Korea’s flagship carrier from Seoul to Busan. SeoulThe union and HMM’s management yesterday signed an agreement to move forward on the relocation, which will see the company rebuild its HQ in the city’s North Port. President Lee was elected following snap polls on 3 June 2025, after his predecessor, Yoon Suk-yeol, was impeached after a disastrous attempt ... The post Union withdraws opposition to HMM relocation to Busan appeared first on The Loadstar .
HMM’s labour union has dropped its opposition to President Lee Jae-myung’s bid to relocate South Korea’s flagship carrier from Seoul to Busan. SeoulThe union and HMM’s management yesterday signed an agreement to move forward on the relocation, which will see the company rebuild its HQ in the city’s North Port. President Lee was elected following snap polls on 3 June 2025, after his predecessor, Yoon Suk-yeol, was impeached after a disastrous attempt at imposing martial law. He had made the relocations of the Ministry of Oceans and Fisheries and HMM to Busan part of his election campaign. He argued that their presence would bolster the port city as a maritime centre, and while the ministry moved, HMM’s employees resisted uprooting their families, the union making repeatedthreatsto go on strike. While yesterday’s announcement was sudden,The Loadstarunderstands that HMM’s senior management and government officials have been talking to HMM’s union leaders on the benefits of moving the company to Busan. HMM CEO Choi Won-hyuk said: “Although we encountered numerous disagreements and hurdles during the extensive consultations, we ultimately reached a consensus from a broad-minded perspective to contribute to the greater social cause of balanced national development.” The carrier will hold an extraordinary general meeting on 8 May to amend the company’s articles of incorporation, with the scale and timeline of the relocation to be decided after further consultation with the unions. Mr Choi added: “The reason global shipping companies are typically concentrated in the Seoul metropolitan area is due to the high level of operational efficiency found there. We intend to develop concrete strategies to maximise the efficiency of the Busan relocation, such as having employees responsible for finance and sales continue to work at the Seoul branch.” The government and HMM said that no effort would be spared to support HMM employees in the relocation. Minister for oceans and fisheries Hwang Jong-woo said a task force had been formed to support the relocation, which included representatives from relevant tax, finance, and fiscal authorities, and Busan municipal officials. The union leaders said that while they had concerns about the relocation, they decided to forgo their opposition “in favour of the greater good of developing Busan into a maritime powerhouse”. HMM Land-based Workers’ Union chairman Jung Sung-cheol added: “During the detailed consultation process, employees must be prioritised, and we must ensure that they suffer no disadvantages under any circumstances.” And Korean Finance & Service Workers’ Union chairman Lee Jae-jin said the relocation’s impact on employees’ families must be assessed, adding: “Comprehensive and tangible compensation plans, covering housing solutions, educational environments, and both tangible and intangible losses incurred during the relocation process, must be established to the satisfaction of the employees.” Inside the industry’s AI shift Complete The Loadstar’s ‘State of AI in the Supply Chain’ survey — and receive the full report and data before release. Take the 2-min survey
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