[Concall] POSCO Holdings "No Consideration at All for Acquiring HMM"

2022 Performance Announcement

[Asia Economy Reporter Choi Seoyoon] POSCO Holdings recently stated that it is "not considering at all" the acquisition of HMM, which has been raised recently.

At the Q4 earnings conference call held on the 27th, POSCO Holdings said, "It does not align at all with POSCO Holdings' mid- to long-term business direction, so we are not considering it at all at this time."

The government and the Korea Development Bank are undergoing consulting procedures for the sale of HMM's management rights. The largest shareholder of HMM is the Korea Development Bank, holding 20.69% of shares, and the Korea Ocean Business Corporation (19.96%) is the second largest shareholder. In this regard, POSCO Holdings is being mentioned as a strong candidate for acquisition both inside and outside the industry.

A view of the POSCO Center in Gangnam-gu, Seoul.
[Photo by POSCO]