Cho Seung-hwan, Minister of Oceans and Fisheries, stated regarding the sale of HMM, "During the main bidding, we will comprehensively evaluate the financial and managerial capabilities of candidate companies," and added, "The evaluation criteria will also include the acquirer's understanding of the shipping industry and their plans for how to develop HMM."
Minister Cho held a press briefing at a restaurant near Sejong City on the afternoon of the 30th, saying, "When looking at both financial and industrial aspects, there is no disagreement among the government, including the Korea Development Bank, Korea Ocean Business Corporation, the Ministry of Oceans and Fisheries, and the Financial Services Commission," he said.
Cho Seung-hwan, Minister of Oceans and Fisheries, is giving a greeting during a press meeting at a restaurant near Sejong City on the afternoon of the 30th.
He explained, "I have expressed my conviction about the privatization of HMM several times," adding, "Given the characteristics of the shipping industry, it is clearly an unsuitable sector for public institutions to operate." He emphasized, "The nature of maritime management in the shipping industry is that it operates under an owner-management system or under a professional management system that is trusted and driven by the owner's absolute conviction."
Minister Cho added, "Through this, I believe we will be able to select an acquirer capable of leading HMM's sustainable growth."
Regarding concerns that perpetual bonds might burden HMM's privatization, he said, "Since the sale announcement assumed stock conversion, I think both participants in the sale and the market had some degree of foresight about this."
On the issue of the discharge of contaminated water from the Fukushima nuclear power plant in Japan, he stated, "My confidence that our seas and seafood are safe remains unchanged," and added, "There has been no clear sign of a decline in seafood consumption."
He continued, "Not only through discount events for Onnuri gift certificates but also through government and private stockpiling purchase systems, we will conduct proactive and continuous monitoring to prevent consumption from shrinking," he emphasized.
Minister Cho said, "The government is also providing information to the public quickly and transparently based on a scientific and objective verification approach," and added, "I believe this has gained public understanding, allowing the situation to pass without a decline in seafood consumption."
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